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B   H   S73   DMH 


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INSURANCE    LAWS 


Hi   r,n 


HERMAN     L.     LKbtiiN 
Commissioner  of   Insurance 


JAMES  A.  FREAK 


MADISON.  WIS. 
iNTiNQ  Company,  Sta.];  Pkjljstk 
1911 


\/,.V<_-<3 ,       KiK.^3 


WISCONSIN 


INSURANCE    LAWS 


In  Effect  on  or  Before  July  '22,  1911 


HERMAN    L.    EKERN 
Commissioner  of  Insurance 


PUBLISHED  BY  AUTHORITY  OF  LAW 

JAMES  A.  FREAR 

Secretary  of  State 


MADISON.  WIS. 
Democrat  Printing  Company,  State  Pbintir 
1911 


* • •    -•- 


EXCHANttK 


TABLE  OF    CONTENTS 


Department  of  insurance,  94k-94m,  170,  961,  1966y-1971. 

Taxation,  exemptions.   1038. 

Future  estates,  valuation,  1087—13  (2);  1087—15(2). 

License  fees.  1219-1222. 

Retaliatory  laws,  1221. 

Stockholders,  vote,  proxies,  1760. 

Proxies,  1760m. 

Corporations,  articles,  amendments,  1772-1774. 

Definitions,  1895m. 

Domestic  companies,  stock  and  mutual,  1896-1908a. ' 

Consolidation  of  domestic  tire  companies,  1908m. 

Guaranty  surplus  and  special  reserve  funds,  1909-1914. 

Re- insurance  companies,   1914a. 

Fire  companies,  foreign,  1915-1919c. 

Re-insurance,  1919d-1919g. 

Unauthorized  companies,  1919f. 

Surplus  lines,   1919m. 

Fire  company  reports,  1920,  1921. 

Payment  of  judorment,  1919e. 

Boards  of  fire  underwriters  and  fire  patrol,  1922-1925. 

Fire  department  duties,  1926,   1926m. 

Town  mutuals,   1927-1941. 

Citv  and  village  mutuals,  1941—2  to  1941—12. 

Standard  fire  policy,  1941—42  to  1941—65. 

Fire  insurance,  general  provisions,  1942-1946. 

Policies  to  indicate  whether  mutual  or  stock,   1942. 

Surplus,  limitation,  fire  companies,  1912 — 1. 

Realty  insurance,  valued  policy,  1. 

Cash  value,  co-insurance,  1943a. 

Rates,  combination  to  fix,  1943b. 

Premium  notes,  1944,  1945. 

Application,  attach  to  policy,  1945a. 

Foreign  companies,  limitation  of  assessment,  1945b. 

Fire  companies,  domestic,  cyclone  risk,  1945c. 

Magistrate's  certificate,  1945d. 

Resident  agents,  1945e. 

Directors,  1945f. 

Lloyds'  insurance,  resident  agent,  1945g. 

Fire  companies,  mutual,  directors,  liabilities,  1945h. 

P''ire  companies,  foreign,  assessments,  notice,  19451 

Milwaukee  agents,  1946. 

Misrepresentation,  1946a-1946f. 

Cancellation,  short  rate,  1946d. 

State  fire  marshal,     1946g-1946q. 

Life  companies,  definitions,  1946x. 

Life  companies,  domestic,  1947-1947a. 

Life  companies,  domestic  mutuals,  194'7c-1947k, 


682198 


CONTENTS. 


Policies,  participating  and  non-participating,  1947o. 

Surplus,  rights  of  stockholders  and  policyholders,  1947p. 

Life  companies,  domestic,  salaries,  1947r. 

License,  1947  (5),  1948,  1949. 

Valuation  of  policies,  1950. 

Premium,  expense  charge  and  limitation,  1950m. 

Expenses,  report,  limitation,  1950n-1950t. 

Life  companies,  domestic,  investments,  1951. 

Dividends,  1952-19521. 

Life  companies,  foreign,  admission,  1953. 

Application,  copy,  1953b. 

Disbursements,  political,  legislative,  1953d,  1953e. 

Report,  annual,  gain  and  loss  exhibit,  1953n,  1954,  1955. 

Mutual  benefit  societies,  1955a-1955n. 

Discrimination,   1955o. 

General  penalty  provision,  1955o — 5. 

Assessment  life  companies,  1955y — 1  to  1955y — 2. 

Re-insurance,  domestic  life  and  casualty  companies,  1955 — 21,1955 — 26. 

Mutual  benefit  societies,  1956-1959. 

Health  and  accident  policies,  provisions,  1960. 

Hail  companies,  foreign,  1966—1. 

Casualty  companies,  foreign.  1966 — 32  to  1966 — 49a. 

Department  of  insurance,  1966y — 1972c. 

Deposit  with  state  treasurer,  1973. 

Judgment,  non-payment,  1974. 

Removal  of  causes,  conditions  in  contracts,  1975. 

Agents,  1976,  1977. 

Insurers  to  comply  with  law,  1978. 

State  insurance  fund,  1978a^l978e. 

Lloyds'  marine  insurance,  1978f-1978m. 

State  life  fund,  1989m. 

Insurance  by  married  women,  2347,  2347b. 

Defendant  insurance  companies,  joinder,  2609a. 

Process,  service  on  insurance  corporations,  2637  (9)  (10)  (11). 

Exemption  of  insurance  moneys,  2982  (19), 

Injunction,  3218,  3219. 

Forfeiture,  3299,  3300. 

Future  estates,  3871a. 

Evidence,  documentary,  4182,  4182a. 

Warranties  in  insurance,  4202m,  4202s. 

Arson,  4405. 

Fraud  on  life  companies,  absconding,  4438e. 

State  officers  and  employees,  4549g. 

Mutual  benefit  society,  penalties,  4575c-4575e. 

Reference  table  of  chapters  of  laws  and  section  numbers. 

Index. 


Insurance  Laws  of  Wisconsin 


T       •       » 

J     ■        i 


170  (1898;  chs.  643  and  676, 1907;  ch.  609,  1911,  in  effect  July  8, 
1911.)     . 
Officers  and  employees ;  salaries. 
Section  170.     (14.)     Department  of  Insurance,     a.  The  con^ 
missioner  of  insurance,  five  thousand  dollars. 

b.  The  deputy  commissioner  of  insurance,  *  *  *  twenty- 
five  hundred  dollars. 

c.  *  *  *:  The  chief  clerk,  *  *  *  sixteen  hundred 
dollars;  the  license  clerk,  twelve  hundred  dollars;  the  exam- 
iner, *  *  *  sixteen  hundred  dollars;  two  clerks,  twelve 
hundred  dollars  each ;  an  expert  stenographer,  twelve  hundred 
dollars;  a  second  stenographer  nine  hundred  dollars;  the  filing 
clerk  who  must  be  a  typewriter  operator,  twelve  hundred  dol- 
lars. 

The  *  *  *  actuary,  not  to  exceed  *  *  *  three  thou- 
sand dollars;  the  assistant  actuary,  not  to  exceed  fifteen  hun- 
dred dollars;  and  a  second  assistant  actuary  not  to  exc'eed  thir- 
teen hundred  and  fifty  dollars. 

1038  <  I    : 

Personal  property  of  insurance  companies  exempt. 

Section  1038.  The  property  in  this  section  described  is  ex- 
empt from  taxation,  to-wit: 

13.  All  the  personal  property  of  all  insurance  companies  that 
now  are  or  shall  be  organized  or  doing  business  in  this  state. 

1087—13  (See.  13,  ch.  44,  1903.) 
Future  estates;  valuation. 

Section  108% — 13  (2).  Whenever  a  transfer  tf  property  is 
made  upon  which  there  is,  or  in  contingency  there  may  have 
been,  a  tax  imposed,  such  property  shall  be  appraised  at  its 
clear  market  value  immediately  upon  such  transfer  or  as  soon 
thereafter  as  practicable.     The  value  of  every  future  or  limited 


1087—13  TA^tES  AND  Pl^E^.  6 

estate,  income,  interest  or  annuity  dependent  upon  any  life  or 
lives  in  being,  shall  be  determined  by  the  rule,  method,  stand- 
ard of  mortality  and  value  employed  by  the  commissioner  of 
insurance  in  ascertaining  the  value  of  policies  of  life  insurance 
and  annuities  for  the  determination  of  liabilities  of  life  insur- 
ance companies  except  that  the  rate  of  interest  for  making 
siich  computation  shall  be  five  per  centum  per  annum. 
i«:cr„i,he  me*:no(;i  pf; valuation  see  section  3871a. 

i<)8?-^l&-?Suyd,^,;^j,15,  ch.  44,  1903.) 
'  ''  Cbimmssioner  to  value  future  estates. 

Section  1087 — 15  (2).  The  commissioner  of  insurance  shall 
on  application  of  any  county  court  determine  the  value  of  any 
such  future  or  contingent  estates,  income  or  interests  therein 
limited,  contingent,  dependent  or  determinable  upon  the  life  or 
lives  of  the  person  or  persons  in  being  upon  the  facts  con- 
tained in  such  appraiser's  report  or  upon  the  facts  contained 
in  the  county  court's  finding  and  determination  and  certify 
the  same  to  the  county  court  and  his  certificate  shall  be  pre- 
sumptive evidence  that  the  methods  of  computation  ado^>ted 
therein  is  correct. 

0  ' 

1219  (1898;  ch.  325,  1905;  ch.  290,  1909,  in  effect  July  1,  1909.) 
Fire  and  marine  companies;  license  fees. 
Section  1219.  1.  Every  company  transacting  the  business 
of  insurance  against  fire  or  by  the  risk  of  inland  navigation  or 
transportation,  shall  pay  to  the  state,  on  or  before  the  thirty- 
first  day  of  January  in  each  year,  a  tax  of  two  per  centum  on 
the  amount  of  the  gross  premiums  received  for  direct  insur- 
ance, less  return  premiums  and  cancellations  on  direct  insur- 
ance, by  such  company  during  the  preceding  year,  in  this  state. 
Direct  insurance  shall  include  all  insurance  other  than  re-in- 
surance. In  case  any  company  shall  discontinue  business  in 
this  state  and  re-insure  the  whole  or  a  part  of  ita  risks  without 
making  payment  of  this  tax,  the  company  accepting  such  re- 
insurance shall  pay  the  tax;  and  if  several  companies  shall 
make  such  re-insurance  the  tax  shall  be  apportioned  between 
such  companies  in  proportion  to  the  original  premiums  upon 
the  business,  in  this  state,  so  re-insured  by  each  such  company. 
Upon  the  payment  of  the  tax  herein  provided,  such  company 
may  be  licensed  to  transact  its  business  until  the  last  day  of 
January  in  tlie  ensuing  year,  unless  sooner  revoked  or  forfeited 
nccordiug  to  law. 


1  tAXES  AND  FEES.  1219 

Insurance  companies,  domestic  mutiial,  license  fees,  excep- 
tions. 

2.  Excepting  domestic  mutual  insurance  companies  included 
in  sections  1220  or  1220a  and  companies  heretofore  organized 
under  sections  1896  to  1900,  inclusive,  no  domestic  mutual  in- 
surance company  shall  be  required  to  pay  any  taxes,  fees,  or 
charges  to  the  state  by  reason  of  this  or  any  other  section  of  the 
statutes  now  in  force  or  hereafter  enacted  unless  the  same  shall, 
by  specific  reference  to  this  section,  expressly  include  such  com- 
pany. 

Section  1219  is  referred  to  in  1219m,  1915  (7),  1926m. 

1219e  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Casualty  companies;  license  fee. 

Section  1219e.  Every  corporation  transacting  the  business 
of  casualty  or  suretyship  insurance  shall  pay  to  the  state  on  or 
before  the  first  day  of  March  in  each  year,  as  a  license  fee  for 
transacting  such  business,  two  per  centum  upon  the  gross 
premiums  received  during  the  preceding  year  on  all  policies 
or  contracts  which  have  been  written  on  the  lives  of  residents 
or  property  in  this  state. 

Formerly  section  1966 — 49.     See  section  1219. 

1219m  (Ch.  259,  1909,  in  effect  June  3,  1909.) 

Fire  companies;  license  fees,  unauthorized  insurance;  in- 
sured; report;  payment  by. 

Section  1219m.  Any  company  not  authorized  to  do  business' 
in  this  state,  which  shall  insure  any  property  situated  in  this 
state  against  fire  or  the  risk  of  inland  navigation  or  trans- 
portation shall  pay  to  this  state  a  tax  upon  the  gross  premiums 
paid  to  such  company  on  such  insurance  computed  at  the  rate 
per  centum  prescribed  by  section  1219,  and  on  default  of  any 
such  company  in  the  payment  of  such  tax  before  the  first  day 
of  March  next  succeeding,  the  owner  of  such  property  shall 
pay  such  tax.  Every  person  paying  more  than  one  hundred 
dollars  premiums  to  any  one  such  company  in  any  year  shall 
report  the  same  in  writing  by  mail  to  the  commissioner  of  in- 
surance before  the  first  day  of  March  next  succeeding,  and  if 
such  report  be  not  made  and  such  tax  remains  unpaid  for  sixty 
days  after  the  said  first  day  of  March,  the  tax  shall  be  increased 
by  one-tenth  for  every  month  during  which  such  tax  remains' 
unpaid  after  the  expiration  of  said  sixty  days. 


1220 


TAXES  AND  FEES.  k 


1220  (Ch.  326,  1899;  ch.  21,  1901;  ch.  208,  1903;  ch.  455,  1905; 
ch.  656,  1907.) 
life  companies;  annuial  license  fee. 

Section  1220.  Every  company,  corporation  or  association 
transacting  the  business  of  life  insurance  within  this  state,  ex- 
cepting only  such  fraternal  societies  as  have  lodge  organiza- 
tions and  insure  the  lives  of  their  own  members,  and  no  others 
shall,  on  or  before  the  first  day  of  March,  in  each  year,  pay 
into  the  state  treasury  as  an  annual  license  fee  for  transacting 
such  business,  the  amounts  following: 

Domestic  companies.  (1)  If  such  company,  corporation  or 
association  is  organized  under  the  laws  of  this  state,  and  is 
not  purely  an  assessment  or  stipulated  premium  plan  company 
under  chapter  270,  laws  of  1899  (sec.  1955 — 1),  three  per 
centum  of  its  gross  income  from  all  sources  for  the  year  end- 
ing December  31st,  next  prior  to  said  first  day  of  March  ex- 
cepting therefrom  income  from  rents  of  real  estate  upon  which 
said  company,  corporation  or  association  has  paid  the  taxes 
assessed  thereon,  and  excepting  also  premiums  collected  out- 
side ef  the  state  of  Wisconsin  or  on  policies  held  by  non-resi- 
dents of  the  state  of  Wisconsin.  In  ascertaining  the  income 
upon  which  such  license  fee  shall  be  computed  as  aforesaid,  no 
deduction  shall  be  made  from  premiums,  whether  paid  in  cash 
or  premium  notes,  on  account  of  dividends  allowed  or  paid  to 
the  insured. 

Foreign  companies.  (2)  If  any  such  company,  corporation 
or  association  is  organized  without  the  state  of  Wisconsin,  and 
is  not  purely  an  assessment  company,  it  shall  pay  into  the  state 
treasury,  as  such  annual  license  fee,  the  sum  of  three  hundred 
dollars,  except  that  whenever  the  similar  taxes  and  fees  im- 
posed upon  a  company  of  another  state  under  section  1221, 
shall  exceed  three  hundred  dollars,  the  amount  of  the  annual 
license  fee  shall  be  deducted. 

Section  2.     Chapter  455,  laws  of  1905,  is  repealed. 

Section  1220  is  referred  to  in  1219,  1947.  See  subd.  13,  section  1038; 
also  subd.  2,  section  1219. 

1220a  (Part  of  ch.  326,  1899,  and  see.  2,  ch.  21,  1901.) 
License  fees  of  other  companies. 
Section  1220a.  Every  other  such  association,  corporation  or 
company  doing  business  within  this  state,  whether  organized 
within  or  without  the  state,  including  all  assessment  companies 
and  associations,  and  stipulated  premium  plan  companies  under 
chapter  270,  laws  of  1899  (sec.  1955—1),  and  excepting  only 
such  fraternal  organizations  as  are  hereinbefore  specified,  shall. 


9  TAXES  AND  FEES.  1220a 

on  or  before  the  first  day  of  March,  in  each  year,  pay  into  the 
state  treasury  of  the  state  as  an  annual  license  fee,  the  sum  of 
three  hundred  dollars. 

Section  1220a  is  referred  to  in  1219. 

1220b  (Part  of  ch.  326,  1899 ;  and  sec.  3,  ch.  21,  1901.) 

Power  granted  by  license;  license  fee  in  lieu  of  all  taxes, 
except  on  real  estate. 
Section  1220b.  Such  license,  when  granted  shall  authorize 
the  company,  corporation  or  association  to  whom  it  is  issued  to 
transact  business  until  the  first  day  of  March  of  the  ensuing 
year,  unless  sooner  revoked  or  forfeited.  The  payment  of  such 
license  fee  shall  be  in  lieu  of  all  taxes  for  any  purpose  author- 
ized by  the  laws  of  this  state,  except  taxes  on  such  real  estate 
as  may  be  owned  by  such  company,  corporation  or  association. 

1220c  (Sees.  4,  5  and  6,  ch.  21,  1901.) 

Extension  of  license  to  become  due  ori  May  1. 

Section  1220c.  Any  such  company,  corporation  or  associa- 
tion may  have  such  license  extended  in  any  year,  from  the  first 
day  of  March  to  the  first  day  of  May,  by  paying  a  pro  rata 
share  of  the  license  fee  prescribed  by  this  act  for  the  interven- 
ing two  months  and  thereafter  said  annual  license  fee  shall  be 
paid  on  the  first  day  of  May  of  each  year,  and  shall  authorize 
such  company,  corporation  or  association  to  transact  business 
until  the  first  day  of  May  of  the  ensuing  year. 

Conflicting  laws  repealed. 
All  act^  and  parts  of  acts  conflicting  with  the  provisions  of 
this  act  are  hereby  repealed. 

Provisions  of  act  not  to  affect  section  1221. 
This  act  shall  not  affect,  alter  or  repeal  the  provisions  of 
section  1221  of  the  statutes  of  1898,  which  section  is  hereby 
declared  to  be  in  full  force  and  efi:'ect. 

1221 

Retaliatory  laws;  life,  fire,  accident  and  marine  com- 
panies; deposit;  license  fees. 
Section  1221.  Whenever  the  laws  of  another  state  of  the 
United  States  shall  require  of  life,  fire,  accident  or  inland 
navigation  insurance  companies  organized  under  the  laws  of 
this  state  and  doing  business  in  such  other  state  any  deposit 
of  securities  for  the  protection  of  their  policy  holders  or  other- 
wise, or  any  payment  of  taxes,  fines,  penalties,  certificates  of 


1221  VOTES.  10 

authority,  license  fees  or  otherwise,  greater  than  the  amount 
required  by  the  laws  of  this  state  for  the  same  purposes  from 
similar  companies  organized  under  the  law  of  such  other  state 
and  doing  business  in  this  state,  then  all  such  companies  of 
such  other  states  doing  business  within  this  state  shall  make 
the  same  deposit  with  the  state  treasurer  and  shall  pay  him  the 
same  sum  for  taxes,  fines,  penalties,  certificates  of  authority, 
license  fees  or  otherwise  as  a  condition  to  the  issue  of  a  license 
to  them  as  is  required  to  be  paid  by  the  laws  of  such  other 
state.  ■      '    :!''''"'T'n 

Section  1221  is  referred  to  in  sections  1220,  1220c. 

1222 

License;  form. 

Section  1222.  The  license  herein  provided  for  shall  certify 
to  the  fact  of  the  payment  of  the  license  fee,  be  attested  by 
the  great  or  lesser  seal  thereto  affixed,  and  shall  be  in  such  form 
as  shall  be  approved  by  the  attorney-general. 

1760  (Ch.  532;  1911,  in  effect  July  5,  1911.)  ; 

Stockholders;  votes;  proxies. 

Section  1760.  Unless  a  provision  to  the  contrary  is  inserted 
in  the  articles  of  incorporation  and  recited  in  each  certificate  for 
any  share  of  stock  issued  hy  the  corporation,  every  stlockholder 
of  any  corporation  shall  be  entitled  to  one  vote  for  each  share 
of  stock  held  and  owned  by  him  at  every  meeting  of  the  stock- 
holders and  at  every  election  of  the  officers  thereof,  and  may 
vote  either  in  person  or  by  proxy  at  such  elections,  and  by 
proxy  at  other  meetings  when  so  provided  by  the  by-laws  of 
the  corporation;  and  every  executor,  administrator,  guardian, 
assignee  for  creditors,  receiver  or  trustee  shall  represent  the 
shares  of  stock  in  his  hands  at  all  meetings  of  the  stockholders 
and  may  vote  thereat  as  a  stockholder. 

1760m  (Ch.  389,  1907.) 

Proxies,  existing  invalidated. 

,  Section  1760m.  No  proxy  heretofore  made  or  given  by  any 
policyholder,  officer,  director  or  trustee  of  any  mutual  life  in- 
surance corporation  organized  and  existing  under  the  laws  of 
this  state  shall  be  exercised  or  used  for  voting  upon  any  ques- 
tion whatsoever,  arid  any  votes  given  or  attempted  to  be  given 
.by  such  proxy  shall  be  absolutely  void;  any  thing  in  the  char- 
ter, certificate,  articles  of  incorporation,  constitution  or  by-laws 
of  any  such  corporation  to  the  contrary  notwithstanding, 


11  DOMESTIC  CORPORATIONS.  1772 

1772  (1898;  ch.  507,  1905.) 

Domestic  corporations,  articles,  contents,  verification,  fil- 
ing, fee. 

Section  1772.  In  order  to  form  such  a  corporation  the  per- 
sons desiring  so  to  do  shall  make,  sign  and  acknowledge  writ- 
ten articles  containing: 

1.  A  declaration  that  they  associate  for  the  purpose  of  form- 
ing a  corporation  under  these  statutes,  and  of  the  business  or 
purposes  thereof. 

2.  The  name  of  such  corporation:  But  such  name  shall  not 
contain  the  names  of  individuals  in  the  manner  in  which  they 
are  ordinarily  used  in  partnership  or  business  names,  and  shall 
be  such  as  to  distinguish  it  from  any  other  corporation  organ- 
ized under  the  laws  of  this  state.  In  case  of  the  reorganization 
of  a  corporation  the  name  of  the  old  corporation  may  be  used: 
No  corporate  name  shall  be  held  illegal  because  of  the  omission 
of  the  word  ''limited."  The  location  of  such  corporation  in 
some  city,  village  or  town  in  the  state. 

3.  The  capital  stock,  if  any,  the  number  of  shares  and  the 
amount  of  each  share. 

4.  The  designation  of  general  officers  and  the  number  of  di- 
rectors, which  shall  not  be  less  than  three;  and  the  directors 
may  be  required  to  be  classified  into  three  classes  so  that  one- 
third  shall  hold  their  offices  for  one  year,  one-third  for  two 
and  one-third  for  three  years;  in  which  case'  all  directors 
elected  subsequent  to  the  first  shall  hold  their  offices  for  three 
years  except  when  elected  or  appointed  to  fill  vacancies. 

5.  The  principal  duties  of  the  several  general  officers  re- 
spectively. 

6.  The  method  and  conditions  upon  which  members  shall  be 
accepted,  discharged  or  expelled;  and,  in  stock  corporations, 
persons  holding  stock,  according  to  the  regulations  of  the  cor- 
poration, and  they  only,  shall  be  members. 


1772  (7)   (1898;  ch.  507,  1905;  ch.  355,  1909;  ch.  341,  1911,  in 
effect  June  18,  1911.) 
Other  provisions;  first  meeting,  filing  articles,  recording, 
register's  certificate,  fee. 
Section  1772.     7.  Such  other  provisions  or  articles,  if  any, 
not  inconsistent  with  law,   as  they  may  deem  proper  to  be 
therein  inserted  for  the  interests  of  such  corporation  or  the  ac- 
complishment of  the  purposes  thereof,  including,  if  desired,  the 
duration  of  its  existence.     In  case  the  corporation  is  formed 
without  capital  stock,  the  articles  shall  fix  the  time  and  place 
for  the  first  meeting  for  the  election  of  officers,  and  the  signers 


1772  (7)  DOMESTIC  CORPORATIONS.  12 

of  such  article*  shall  give  notice  thereof  to  the  members  in  the 
manner  provided  in  the  next  section.  Such  original  articles 
or  a  true  copy  thereof,  verified  as  such  by  the  affidavits  of  two 
of  the  signers  thereof,  shall  be  filed  with  the  secretary  of  stat^. 
A  like  verified  copy  and  certificate  of  the  secretary  of  state, 
showing  the  date  when  such  articles  were  filed  and  accepted  by 
the  secretary  of  state,  within  thirty  days  of  such  filing  and 
acceptance,  shall  be  recorded  by  the  register  of  deeds  of  the 
county  in  which  such  corporation  is  located,  and  no  corpora- 
tion shall,  until  such  articles  be  left  for  record,  have  legal  ex- 
istence. The  register  of  deeds  shall  forthwith  transmit  to  the 
secretary  of  state  a  certificate  stating  the  time  when  such  copy 
was  recorded  and  shall  be  entitled  to  a  fee  of  twenty-five  cents 
therefor  to  be  paid  by  the  person  presenting  such  papers  for 
record.    Upon  the  receipt  of  such  certificate  the  secretary  of 

state  shall  issue  a  certificate  of  incorporation. 
*     «     * 

1772  (9)  (Ch.  341,  1911,  in  effect  June  18,  1911.) 
Filing  articles,  fees,  exceptions. 
Section  1772.  9.  (a)  No  fee  for  filing  its  articles  of  incor- 
poration or  amendments  thereto  is  required  to  be  paid  by  any 
corporation  organized  without  capital  stock  or  exclusively  for 
educational,  benevolent,  charitable,  or  reformatory  purposes, 
the  articles  of  which  provide  that  no  dividend  or  pecuniary 
profits  shall  be  declared  or  paid  to  the  members  thereof.  But 
fees  for  filings  are  required  to  be  paid  to  the  secretary  of  state 
as  follows: 

(b)  By  corporations  organized  for  the  manufacture  of  beet 
sugar,  butter,  cheese,  or  other  dairy  products  or  for  the  busi- 
ness of  preparing  for  market,  storing,  and  selling  products  of 
the  farms  of  members  of  such  corporations,  ten  dollars  for  the 
articles  and  five  dollars  for  each  subsequent  amendment 
thereof. 

(c)  By  every  other  corporation,  except  as  is  otherwise  pro- 
vided in  these  statutes,  twenty-five  dollars  for  the  articles  and 
ten  dollars  for  each  subsequent  amendment  thereof,  together 
with  a  further  fee  of  one  dollar  for  each  one  thousand  dollars 
of  its  authorized  capital  stock  in  excess  of  twenty-flve  thou- 
sand dollars. 


13  DOMESTIC  CORPOHATIONS.  1773 

1773  (1898;  ch.  507,  1905.) 

Organizatiolii;  temporaiy  control;  first  meeting;  capital, 
subscribed  or  paid  in  for  transaction  of  business ;  aban- 
donment of  organization. 
Section  1773.    Until  the  directors  or  trustees  shall  be  elected 
the  signers  of  the  articles  of  organization  shall  have  direction 
of  the  affairs  of  the  corporation  and  make  such  rules  as  may 
be  necessary  for  perfecting  its  organization,  accepting  mem- 
bers or  regulating  the  subscription  of  the  capital  stock.     In 
stock  corporations  the  first  meeting  may  be  held  at  any  time 
after  one-half  the  capital  stock  shall  have  been  subscribed; 
and  may  be  called  by  any  two  signers  of  the  articles,  at  such 
time  and  plac6  as  they  shall  appoint,  by  giving  ten  days'  per- 
sonal notice  thereof  in  writing  to  each  subscriber  of  stock  or 
by  publishing  notice  thereof  for  at  least  two  weeks  before 
such  meeting  in  some  newspaper  published  at  or  nearest  to  tht? 
designated  place  of  location  of  the  corporation;  or  such  meet- 
ing may  be  held  without  previous  notice  if  all  the  subscribers 
for  stock  be  present  in  person  or  by  duly  authorized  attorney. 
No  such  corporation  shall  transact  business  with  any  others 
than  its  members  until  at  least  one-half  of  its  capital  stock 
shall  have  been  duly  subscribed  and  at  least  twenty  per  centum 
thereof  actually  paid  in;  and  if  any  obligation  shall  be  con- 
tracted in  violation  hereof,  the  corporation  offending  shall  have 
no  right  of  action  thereon;  but  the  signer  or  signers  of  the 
articles  and  the  subscriber  or  subscribers  for  stock  transacting 
such  business  or  authorizing  the  same,  or  having  knowledge 
thereof,  consenting  to  the  incurring  of  any  debt  or  liability,  as 
well  as  the  stockholders  then  existing,  shall  be  personally  lia- 
ble upon  the  samci     The  signers  of  the  articles  of  organization 
may  abandon  the  organization  and  revoke  the  articles  at  any 
time  before  fifty  per  centum  of  the  stock  has  been  subscribed 
and  twenty  per  centum  thereof  paid  in  by  signing  and  acknowl- 
edging duplicate,  written  agreements  revoking  the   original 
articles  of  organization  and  forwarding  same  to  the  secretary 
of  state,  one  agreement  to  be  filed  by  him  and  the  other  agree- 
ment to  be  returned  with  certificate  of  the  secretary  of  state 
attached  showing  the  date  when  such  agreement  was  filed  and 
accepted  by  the  secretary  of  state,  to  be  recorded  by  the  regis- 
ter of  deeds  of  the  county  in  which  such  corporation  is  located ; 
and  the  register  of  deeds  shall  note  on  the  margin  of  the  record 
of  the  articles  of  incorporation,  the  volume  and  page  where 
such  agreement  is  recorded.     The  register  of  deeds  shall  forth- 
with transmit  to  the  secretary  of  state  a  certificate  stating  the 
time  when  such  agreement  was  recorded  and  shall  be  entitled 


1774  DOMESTIC  CORPORATIONS.  14 

to  a  fee  of  twenty-five  cents  therefor  to  be  paid  by  the  person 
presenting  such  agreement  for  record  provided,  that  the  aban- 
donment of  the  organization  or  the  revocation  of  the  articles 
in  pursuance  hereof  shall  not  relieve  such  corporation  or  any 
signer  or  subscriber  for  stock  of  any  stockholder  then  existing 
from  any  liability  hereby  created. 

1774  (1898;  ch.  507,  1905.) 

Articles,  amendment;  filing;  recording;  change  of  name; 
notice;  publication. 

Section  1774.  Any  corporation  organized  under  this  chap- 
ter, may  at  any  meeting  of  its  members  by  a  vote  of  at-  least 
the  owners  of  two-thirds  of  all  the  stock  then  outstanding,  in 
ease  of  stock  corporations,  or  at  least  one-half  of  the  members 
of  the  corporation  without  stock,  unless  a  greater  vote  shall  be 
required  in  its  articles,  amend  its  articles  of  organization  so  as 
to  modify  or  enlarge  its  business  or  purposes,  change  its  name 
or  location,  increase  or  diminish  its  capital  stock,  change  its 
officers,  or  its  directors  or  provide  anything  which  might  have 
been  originally  provided  in  such  articles;  but  no  corporation 
without  stock  shall  change  substantially  the  original  purposes 
of  its  organization.  Such  amendments  shall  be  adopted  only 
in  accordance  with  the  articles  of  organization,  if  a  mode  of 
amending  the  same  shall  have  been  therein  prescribed.  When 
adopted,  duplicate  copies  of  such  amendment,  with  a  certificate 
thereto  affixed,  signed  by  the  president  and  secretary,  or  if 
none,  the  corresponding  officers,  and  sealed  with  the  corporate 
«eal,  if  there  be  any,  stating  the  fact  and  date  of  adoption  of 
such  amendment,  and,  if  a  stock  corporation,  the  total  number 
of  shares  voting  in  favor  of  such  amendment,  and  if  a  corpora- 
tion organized  without  capital  stock,  the  total  number  of  mem- 
bers and  the  total  vote  in  favor  of  such  amendment,  and  that 
such  copy  is  a  true  copy  of  the  original,  shall  be  forwarded  to 
the  secretary  of  state,  one  copy  to  be  filed  by  him,  and  the  other 
copy  to  be  returned  with  certificate  of  the  secretary  of  state 
attached,  showing  the  date  when  such  amendment  was  filed  and 
accepted  by  the  secretary  of  state,  which  said  copy  shall  be 
recorded  by  the  register  of  deeds  of  the  county  in  which  such 
corporation  is  located,  within  thirty  days  after  filing  with  the 
secretary  of  state,  and  in  case  of  failure  so  to  do,  such  officers 
shall  forfeit  twenty-five  dollars,  and  the  register  of  deeds  shall 
note  on  the  margin  of  the  fjeeord  of  the  original  articles,  the 
volume  and  page  where  such  amendment  is  recorded,  and  no 
ameiiLdment  shall  be  of  effect  until  so  recorded,  and  such  amend- 
ment shall  be  yoid  until  so  filed  and  recorded.     The  register  of 


;      U  DOMESTIC  CORPORATIONS.  1774 

deeds  shall  forthwith  transmit  to  the  secretary  of  state  a  cer- 
tificate statiag  the  time  when  such  amendment  was  recorded 
and  shall  be  entitled  to  a  fee  of  twenty-five  cents  therefor,  to 
be  paid  by  the  person  presenting  such  amendment  for  record. 
Upon  receipt  of  such  certificate  the  secretary  of  state  shall 
issue  a  certificate  of  amendment.  Whenever  the  corporate 
name  shall  be  changed  the  secretary  shall  publish  a  notice 
thereof  in  a  newspaper  published  at  or  nearest  to  the  place  of 
location  of  such  corporation,  for  three  weeks,  and  if  he  shall 
fail  for  two  months  so  to  do  shall  forfeit  twenty-five  dollars. 
No  change  of  location  of  any  such  corporation,  if  beyond  the 
limits  of  the  county,  shall  be  valid  until  the  articles  of  organiza- 
tion and  all  amendments  shall  have  been  recorded  in  the  office 
of  the  register  of  deeds  of  the  county  to  which  the  same  shall 
be  changed. 
Section  1774  is  referred  to  in  section  1908m. 

1774n  (Ch.  532,  1911,  in  effect  July  3,  1911.) 

Amendment  of  articles,  increase  of  capital  stock,  limita- 
tion. 

Section  1774n.  No  amendment  to  the  articles  of  any  cor- 
poration, increasing  the  capital  stock,  shall  be  filed  unless  ac- 
companied by  the  affidavit  of  the  president  and  secretary  that 
at  least  one-half  of  the  capital  stock,  including  the  proposed 
increase,  has  been  duly  subscribed  and  at  least  twenty  per 
centum  thereof  actually  paid  in.  The  aforesaid  officers  and 
any  other  officer  or  stockholder  consenting  to  the  incurring  of 
any  debt  or  liability  by  such  corporation,  while  having  knowl- 
edge that  less  than  one-half  of  the  authorized  capital  stock  has 
been  subscribed  or  that  less  than  twenty  per  centum  thereof' 
has  been  actually  paid  in,  shall  be  personally  liable  upon  the 
same. 

1751  to  1791m,  inclusive  (Chapter  86  of  the  Statutes.) 

For  other  laws  relating  to  the  organization,  management  and 
dissolution  of  corporations  generally,  see  above  sections  in  stat- 
utes of  1898,  Sanborns'  Supplement,  and  session  laws.  The 
same  are  omitted  here  because  they  are  included  in  a  com- 
pilation issued  by  the  Secretary  of  State,  Madison,  Wiscon- 
sin, entitled,  *' Private  Corporations." 

1895m  (Ch.  152,  1911,  in  effect  May  13,  1911.) 

Section  1895m.  Unless  the  context  of  any  statutes  or  law 
relating  to  insurance  indicates  otherwise,  the  following  words 
and  phrases  shall  be  understood  in  the  sense  herein  set  forth 
and  defined: 


1895m  DOMESTIC  CORPORATIONS.  16 

1.  ** Company"  includes  all  corporations,  associations,  part- 
nerships, or  individuals  engaged  as  principals  in  the  business 
of  insurance,  except  mutual  benefit  societies. 

2.  *' Mutual  benefit  society"  includes  all  fraternal  and  bene- 
ficiary corporations,  societies,  orders,  or  associations  for  the  re- 
lief of  members  on  the  mutual  or  assessment  plan. 

1896  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurant  companies,  organization;  incorporators;  articles; 
approval;  filing;  recording. 

Section  1896.  Subject  to  the  conditions  and  in  the  manner 
prescribed  by  law,  a  corporation  may  be  organized  by  fifteen 
or  more  residents  of  this  state  to  transact  the  business  of  in- 
surance and  the  articles  thereof  may  be  amended,  in  the  man- 
ner provided  in  chapter  86  of  the  statutes,  except  that  such 
articles  and  amendments  shall  be  filed  in  the  office  of  the  com- 
missioner of  insurance  instead  of  being  filed  in  the  office  of  the 
secretary  of  state,  and  shall  be  submitted  to  and  approved  by 
the  attorney-general  before  filing. 

Section  1896  is  referred  to  in  section  1958   (i) 

1897  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies;  organization;  purposes;  classifica- 
tion. 

Section  1897.  An  insurance  corporation  may  be  formed  for 
the  following  purposes:  (The  mention  of  several  subjects  or 
risks  of  insurance  in  any  subsection  indicates  that  any  one  or 
more  or  all  may  be  included.) 

1.  Fire  Insurance.  Against  loss  or  damage  to  property  on 
land,  by  fire,  lightning,  hail,  tempest  or  explosion. 

2.  Marine  Insurance.  Vessels,  freights,  goods,  moneys,  ef- 
fects, and  money  loaned  on  bottomry  and  respondentia,  against 
the  perils  of  the  seas  and  other  perils  usually  insured  against 
by  marine  insurance,  including  the  risks  of  inland  transporta- 
tion and  navigation. 

3.  Life  Insurance.  Upon  the  lives  or  health  of  persons,  and 
every  assurance  pertaining  thereto,  and  to  grant,  purchase  or 
dispose  of  annuities  and  endowments. 

4.  Disability  Insurance.  Against  bodily  injury  or  death  by 
accident,  and  upon  the  health  of  persons. 

(Ch.  275,  1911,  in  effect  June  8,  1911.) 

5.  Liability  Insurance.  Against  loss  or  damage  by  the  sick- 
ness, bodily  injury,  or  death  by  accident  of  any  person  and 
against  loss  or  damage  to  the  property  of  any  person  hy  accident, 
for  which  loss  or  damage  the  insured  is  liable. 


17  DOMESTIC  CORPORATIONS.  ISdT 

(Ch.  460,  1909,  in  effect  June  19,  1909.) 

6.  Steam  Boiler  Insurance.  Against  loss  or  damage  to  the 
property  of  the  insured  or  to  the  life,  person  or  property  of 
another,  for  which  the  insured  is  liable,  caused  by  the  explosion 
of  steam  boilers,  pipes,  engines,  motors  and  machinery  con- 
nected therewith  or  operated  thereby. 

7.  Fidelity  Insurance.  Against  the  loss  from  the  defaults 
of  persons  in  positions  of  trust,  public  or  private,  and  to  guar- 
antee the  performance  of  contracts  and  obligations  other  than 
that  of  insurance. 

8.  Title  Insurance.  To  examine  titles  to  real  and  personal 
property,  furnish  information  relative  thereto  and  insure 
against  loss  or  damage  by  reason  of  incumbrance  and  defects 
in  titles  and  against  non-payment  of  principal  and  interest  of 
bonds  and  mortgages. 

(Ch.  460,  1909;  ch.  275,  1911,  in  effect  June  8,  1911.) 

9.  Credit  Insurance.  -Against  loss  from  the  failure  of  per- 
sons indebted  to  the  assured  to  meet  their  liabilities,  including 
the  insurance  or  guarantee  of  depositors  or  deposits  in  hamlcs  or 
trust  compcmies. 

(Ch.  460,  1909,  in  effect  June  19,  1909.) 

•  10.  Burglary  Insurance.  Against  loss  or  damage  by  burg- 
lary or  theft,  or  both. 

11.  Plate  Glass  Insurance.  Against  the  breakage  of  glass, 
located  or  in  transit. 

12.  Sprinkler  Leakage  Insurance.  Against  loss  or  damage 
by  water,  caused  by  the  breakage  or  leakage  of  sprinklers, 
pumps,  water  pipes  or  plumbing,  or  its  fixtures,  and  against 
accidental  injury  to  such  sprinklers  and  other  apparatus. 

13.  Elevator  Insurance.  Upon  elevators  and  vehicles,  and  to 
inspect  the  same  and  issue  certificates  thereof. 

14.  Live  Stock  Insurance.  Against  loss  or  damage  to  do- 
mestic animals,  except  by  fire,  and  to  furnish  the  services  of  a 
veterinary  surgeon  for  such  animals. 

15.  Other  Casualty  Insurance.  Against  loss  or  damage  to 
property  by  any  other  casualty  which  may  lawfully  be  the,  sub- 
ject of  insurance,  and  which  shall  be  specified  in  the  articles 
of  organization,  and  for  which  no  other  provision  is  made  by 
law. 

Section  1897  is  referred  to  in  1897g,  1958  (i). 
2—1.  L. 


1897a  DOMESlCiC  CORPORATIONS.  18 

1897a  (Ch.  460,  1909;  ch.  275,  1911,  in  effect  June  8,  1911.) 
Stock  or  mutual  plan;  purposes;  separate  policies;  auto- 
mobile insurance. 

Section  1897a.  1.  Companies  may  be  formed  upon  the  stock 
or  the  mutual  plan  to  transact  any  kind  of  insurance^  authorized 
by  section  1897.     *     *     * 

2.  No  company  shall  be  formed  for  the  purpose  of  engaging 
in  any  other  kind  of  insurance  than  that  specified  in  some  one 
of  the  subsections  of  section  1897,  or  more  kinds  of  insurance 
than  are  specified  in  a  single  subsection,  except  that  a  company 
may  be  formed: 

a.  For  the  purpose  specified  in  subsections  1,  2,  and  12 ;  or 

b.  For  the  purposes  specified  in  subsections  3  and  4;  or 

c.  For  any  or  all  of  the  purposes  specified  in  subsections  4  to 
*     *     *     8  and  10  to  ^5^     *     *     *     inclusive. 

d.  For  the  pu^rpose  specified  in  subsection  9. 

3.  Insurance  under  each  subsection  of  section  1897  shall  be 
written  in  separate  and  distinct  policies,  except  that  the  same 
policy  may  embrace  risks  specified  in  subsections  1  and  12  or 
4  and  5. 

4.  Insurance  against  damage  by  hail  to  crops  shall  be  written 
in  separate  and  distinct  policies  from  other  insurance  mjen- 
tioned  in  subsection  1  of  section  1897. 

5.  Insurance  in  one  policy  ma/y  he  effected^  hy  any  compuny 
licensed  to  transact  the  business  mentioned  in  subsections  1,  2,  5, 
or  10  of  section  1897,  upon  automobiles  and  vehicles  and  the  ac- 
cessories and  other  property  transported  upon  and  used  in  con- 
nection therewith,  against  loss  by  collision  and  against  loss  by 
legal  liability  for  dmnage  to  property  resulting  from  the  mam- 
tenance  and  use  of  such  automobiles  or  vehicles  and  against  loss 
by  burglary  or  theft,  or  both,  and  against  any  risk  mentioned  in 
said  subsections  1,  2,  5,  or  10,  which  said  company  mwy  assume 
under  its  license.  For  this  purpose,  a  fire  insurance  company 
need  not  use  the  standard  fire  policy. 

1897a  is  referred  to  in  section  1958  (1).  -  _ 

1897b  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Mutual  companies,  name;  ''mutual,"  when  liability  "lim- 
T  .       ited  mutual." 

■I^ECTiON  1897b.  1.  The  name  of  every  corporation  hereafter 
organized  doing  business  on  the  mutualplan  shall  contain  the 
word  ''mutual,"  and  if  the  liability  of  the  members  to  the 
company  and  thereby  the  liability  of  the  company  to  the  mem- 
bers shall  be  limited,  the  name  of  any  corporation  hereafter 
organized  shall  contain  the  words  "limited  mutual." 

Stock  companies,  name. 


19  DOMESTIC  CORPORATIONS.  1897b 

2.  No  name  shall  be  used  which  shall  be  so  similar  to  any 
name  already  in  use  as  to  mislead  the  public  in  any  respect. 
Section  1897b  is  referred  to  in  section  1958  (i). 

1897c  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Mutual  company,  articles. 
Section  1897c.     1.  The  articles  of  a  mutual  insurance  com- 
pany shall  provide : 

(a)  That  every  person,  corporation,  association  or  partner- 
ship insured  shall  be  a  member  and  shall  have  one  vote. 

(b)  For  amendment  of  the  articles  by  a  vote  of  three-fourths 
of  the  members  voting  at  a  regular  or  special  meeting  after  the 
proposed  amendment  has  been  filed  with  the  secretary  and  the 
commissioner  of  insurance  and  a  copy  thereof  with  notice  of 
the  time  and  place  of  meeting  has  been  mailed  to  each  member 
at  last  thirty  days  prior  to  such  meeting. 

Limitation;  risk;  territory;  liability. 
2.  The  articles  of  a  mutual  insurance  company,  subject  to 
the  condition  that  the  same  be  expressed  in  every  policy,  may 
limit : 

(a)  The  insurance  to  specified  kinds  or  classes  of  property, 
lives,  individuals  or  liabilities  within  any  subsection  of  section 
1897; 

(b)  The  territory  within  w^hich  insurance  shall  be  granted; 
or 

(c)  The  liability  of  members,  w^hich  liability  shall  be  the  an- 
nual premium  or  a  specified  number  of  times  the  annual  pre- 
mium. 

Section  1897c  is  referred  to  in  section  1958  (i). 

1897d  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies;  by-laws;  filing;  forfeiture. 

Section  1897d.  1.  Every  insurance  corporation  shall  adopt 
by-laws  and  prescribe  the  manner  in  which  the  same  may  be 
amended. 

A  copy  of  such  by-laws  and  of  any  amendments  thereto, 
accompanied  by  the  certificate  of  the  president  and  secretary 
stating  that  the  same  have  been  duly  adopted  and  that  such 
copy  is  true  and  complete,  shall  be  filed  with  the  commis- 
sioner of  insurance  within  thirty  days  after  such  adoption, 
and  in  case  of  failure  so  to  do  each  shall  forfeit  twenty-five 
dollars. 

Section  1857d  is  referred  to  in  section  1958  (i) 

1897e  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Mutual  companies;  applications  for  insurance;  filing. 
Section    1897e.     1.  In   a .  mutual   insurance    corporation,    a 
statement  of  the  agreements  or  applications  for  insurance  made 


/ 
18S7e  STOCK:  CORPORATIONS.      .  20 

before  organization  shall  be  filed  with  the  commissioner  of 
insurance  in  such  form  as  he  shall  require. 

Membership  during  organization. 

2.  Every  person  making  such  agreement  or  application  shall, 
after  such  filing,  and  until  the  corporation  begins  to  transact 
insurance,  be  entitled  to  notice  of  and  to  participate  in  all 
meetings  of  members  of  the  corporation. 

Section  1897e  is  referred  to  in  section  1958  (i). 

1897f  (Ch.  280,  1911,  in  effect  June  9,  1911.) 

Stock  corporations;  promotion;  subscription  contract;  de- 
posit of  funds. 

Section  18971  1.  (a)  No  person  shall  for  the  purpose  of 
organizing  or  promoting  any  insurance  corporation  to  be  or- 
ganized or  proposed  to  be  organized  within  or  without  this 
state,  or  promoting  the  sale  of  stock  of  such  corporation  by  it 
after  organization  as  principal  or  agent,  sell  or  agree  or  at- 
tempt to  sell  within  this  state  any  stock  in  such  insurance  cor- 
poration, unless  the  contract  of  subscription  or  of  sale  shall  be 
in  writing  and  contain  a  provision  in  the  following  language : 

(b)  *'No  sum  shall  be  used  for  commission,  promotion  and 
organization  expenses  on  account  of  any  share  of  stock  in  this 

corporation,  in  excess  of •  per  cent  of  the  amount  actually 

paid  upon  separate  subscriptions,  or  in  lieu  thereof  there  may 

be  inserted,   or  $ —  per  share  from  every  fully  paid 

subscription,  for  such  stock,  ^nd  the  remainder  of  such  pay- 
ments shall  be  held  or  invested  as  authorized  by  the  law  gov- 
erning such  insurance  corporation  and  held  by  the  organizers 
(or  trustees,  as  the  case  may  be)  and  the  directors  and  officers 
of  such  corporation  after  organization  as  bailees  for  the  sub- 
scriber, to  be  used  only  in  the  conduct  of  the  business  of  in- 
surance by  such  corporation  after  having  been  licensed  there- 
for by  proper  authority." 

(c)  The  term  "stock,"  as  used  in  this  section,  shall  include 
bonds  and  any  other  evidences  of  indebtedness  or  of  interest 
in  the  profits  of  any  such  corporation. 

2.  Funds  and  securities  held  by  such  organizers,  trustees, 
directors  or  officers  as  bailees  shall  be  deposited  with  any  bank 
or  trust  company  of  this  state  until  such  corporation  has  been 
licensed  as  aforesaid. 

(Ch.  287,  1911,  in  effect  June  9,  1911.) 

Promotion  expenses  and  commission  limited;  exceptions. 
2m.  a.  Every  contract  within  subsection  1  shall  contain  a 
statement  giving  the  names  of  the  organizers  (or  trustees  as  the 


21  STOCK   CORPORATIONS.  1897f 

case  may  be)  and  their  residence,  the  par  value  of  the  shares 
and  the  prices  at  which  shares  have  been,  are,  or  are  to  be  sold, 
the  number  of  shares  at  each  price,  the  total  number  of  shares, 
and  be  filled  in  with  the  percentage  or  amount  which  may  be 
used  for  commission,  promotion  or  org'anization  expenses,  which 
together  shall  not  exceed  ten  per  cent  of  the  amount  actually 
paid  upon  separate  subscriptions  for  such  stock. 

b.  Until  the  thirtieth  day  of  September,  1912,  the  provisions 
of  paragraph  *'a''  of  this  subsection  shall  not  apply  to  the  or- 
ganization of  or  sale  of  stock  in  any  domestic  insurance  cor- 
poration, which  has  filed  its  articles  of  organization  with  the 
commissioner  of  insurance  before  the  taking  effect  of  this  sub- 
section.     ' 

(Ch.  280,  1911,  in  effect  June  9,  1911.) 

Person  sharing  commission  disclosed;  liability  if  not;  dis- 
crimination prohibited;  literature  filed;  penalty;  con- 
tract valid. 

3.  No  person  shall  participate  in,  receive  or  accept  any  part 
or  promise  of  any  part  of  any  of  the  commissions  or  rewards 
of  any  organizer,  promoter  or  agent  for  the  sale  of  any  such 
stock,  unless  the  name  of  such  person  and  the  fact  of  his  in- 
terest in  such  commissions  or  reward  shall  appear  upon  such 
contract  of  subscription.  The  omission  of  such  statement  from 
any  such  contract  shall,  in  addition  to  the  penalty  herein  pro- 
vided, make  such  person  liable  to  the  purchaser  or  his  assignees 
for  all  sums  paid  by  such  purchasers  with  interest  at  the  legal 
rate  from  date  of  payment  upon  the  assignment  or  tender  of 
assignment  of  the  stock  so  purchased. 

4.  No  person  receiving  any  commission  or  other  profit  or 
advantage  as  organizer,  promoter  or  agent,  selling  or  agreeing 
er  attempting  to  sell  any  such  stock,  or  at  any  time  in  consid- 
eration of,  or  in  connection  with  any  such  sale  or  contract  of 
subscription  shall,  directly  or  indirectly,  make  or  offer  to  make 
any  contract  or  agreement  other  than  as  plainly  expressed 
therein,  nor  shall  any  such  contract  of  subscription  contain  any 
agreement  for  employment  or  for  any  deposit  or  for  any  special 
advantage  to  the  person  purchasing  or  contracting  for  such 
stock. 

5.  No  person  shall  issue,  deliver,  circulate  or  publish  in  this 
state  any  advertisement  in  any  newspaper  or  periodical  pub- 
lished in  this  state  or  any  circular  or  prospectus  for  the  sale  of 
stock  of  any  insurance  corporation,  whether  organized  or  pro- 
posed to  be  organized  within  or  without  this  state,  for  the 
purpose  of  soliciting  or  securing  subscriptions  to  or  contracts 
fo^  the  purchase  of  stock  in  any  such  corporation,  u^l^s: 


1897f  STOCK  CORPORATIONS.  22 

(a)  A  copy  of  such  circular,  prospectus  or  other  advertise- 
ment shall  first  have  been  filed  in  the  office  of  the  commissioner 
of  insurance. 

(b)  The  same  shall  contain  the  name  and  address  of  the  per- 
son issuing:,  delivering,  circulating  or  publishing  the  same,  with 
a  consecutive  serial  number  for  each  separate  form  of  such 
circular,  prospectus  or  other  advertisement. 

6.  Any  person  violating  this  section  shall  be  punished  by  a 
fine  of  not  less  than  twenty-five  dollars  nor  more  than  one 
thousand  dollars,  or  by  imprisonment  in  the  county  jail  not 
exceeding  six  months  or  by  both  such  fine  and  imprisonment. 

7.  A  contract  for  subscription  to  or  the  purchase  of  stock  in 
any  insurance  corporation  not  conforming  to  the  provisions  of 
this  section  shall  be  valid  and  enforceable  in  favor  of  the  sub- 
scriber or  purchaser,  but  shall  not  be  valid  or  enforceable  in 
favor  of-  the  corporation  or  any  person  selling  such  stock, 
either  as  principal  or  agent. 

Section  1897f  is  referred  to  in  section  1958  (i). 

1897g  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Stock  companies;  capital  stock  required. 

Section  1897g.  1.  No  stock  insurance  company  shall  trans- 
act the  business  of  insurance  unless: 

(a)  It  has  a  capital  stock  actually  paid,  in  cash  or  invested 
as  provided  by  law,  of  at  least  one  hundred  thousand  dollars 
for  the  insurance  specified  in  any  one  subsection  of  section 
1897; 

(b)  With  an  additional  fifty  thousand  dollars  for  the  in- 
surance mentioned  in  any  other  subsection  which  may  be 
transacted  by  such  company; 

(c)  Provided,  that  the  capital  stock  required  or  to  be  added 
for  transacting  business  under  either  subsection  4  or  14  need 
not  exceed  twenty-five  thousand  dollars ; 

(d)  Provided,  that  a  company  transacting  the  business  men- 
tioned in  subsection  1  shall  not  require  any  additional  capi- 
tal to  transact  that  mentioned  in  subsection  12,  and  that  the 
total  capital  required  to  transact  the  business  mentioned  in 
several  or  all  of  subsections  4,  5,  6,  8,  9,  10,  11,  12  and  13, 
need  not  exceed  two  hundred  and  fifty  thousand  dollars. 

Surplus  required. 
2.  Nor  shall  any  stock  insurance  company  begin  the  busi- 
ness of  insurance  unless  it  has  a  surplus,  including  the  fund 
mentioned  in  paragraph  (b)  of  section  1897s  actually  paid, 
in  cash  or  invested  as  provided  by  law,  equal  to  one-fourth  of 
its  capital  stock. 


23  MUTUAL  COMPANIES.  1897g 

Mutual  companies;  members;  corporations. 

3.  Any  mutual  insurance  company  may  issue  policies  to  any 
public  or  private  corporation,  board  or  association  in  this  state 
and  elsewhere;  and  any  public  or  private  corporation,  board 
or  association  of  this  state  is  authorized  to  make  applications, 
enter  into  agreements  for  and  hold  policies  in  any  mutual  in- 
surance company. 

(Ch.  275,  1911,  in  effect  June  8,  1911.) 

Mutuals,  borrowing  money,  surplus  notes. 

4.  Subject  to  the  conditions  of  this  subsection,  any  mutual 
insurance  company  may  borrow  money  without  discount  or  the 
payment  of  commissions,  and  upon  receiving  the  full  amount 
of  the  principal  to  be  used  solely  for  the  business  of  insurance, 
may  issue  its  notes,  to  be  known  as  surplus  notes,  which  shall 
fully  recite  said  conditions.  Except  as  herein  provided,  such 
notes  and  indebtedness  shall  not  be  a  liability  or  claim  against 
any  of  the  assets  of  the  company.  The  principal  shall  be  pay- 
able only  when  the  amount  of  the  surplus  of  the  company  over 
all  liabilities  is  double  that  of  such  principal  then  unpaid. 
The  interest  shall  only  be  payable  from  the  surplus  and  shall 
not  exceed  such  sum  as  may  be  fixed  nor  in  any  case  ten  per 
centum  per  annum.  On  a  dissolution  of  the  company,  the  prin- 
cipal and  interest  shall  be  payable  from  the  surplus.  The 
amount  thereof  outstanding  with  the  unpaid  interest  shall  be 
stated  in  each  annual  report. 

Section  1897g  is  referred  to  in  section  1958  (i). 

1897i  (Ch.  460,  1909,  in  effect  June  19,  1909.)  " 

Domestic  companies;  transacting  business;  conditions. 

Section  18971.  1.  No  domestic  insuance  corporation  shall 
continue  or  transact  business,  other  than  the  dissolution  and 
winding  up  of  its  affairs,  at  any  time  after  its  risks  outstand- 
ing, for  a  period  of  one  year,  shall  have  been  below  the  mini- 
mum prescribed  by  section  1898d. 

Incorporators;  directors;  liability. 

2.  The  original  incorporators  during  the  first  year  after  the 
filing  of  the  articles  of  organization  and  until  the  election  of 
directors,  and  thereafter  the  directors,  shall  be  jointly  and 
severally  personally  liable  for  any  losses  incurred  during  the 
time  or  times  hereinafter  mentioned: 

(a)  Upon  any  policies  written,  issued  or  delivered  during 
any  time  when  the  risks  outstanding  shall  be  below  the  mini- 
mum prescribed  by  section  1898d,  and 

(b)  For  the  excess  of  any  policy  above  the  maximum  singly 


18971  MUTUAL  COMPANIES.  24 

risks  prescribed  by  section  1898  during  the  time  while  such 
polic}^  exceeds  such  maximum  single  risk. 
Section  1897i  is  referred  to  in  section  1958   (i). 

1897k  (Ch.  158,  1911,  in  effect  May  15,  1911.) 

Mutuals,  surplus  safeguarded;  dissolution;  reorganization. 

Section  1897k.  1.  After  January  1,  1912,  no  domestic  mu- 
tual insurance  company  shall  pay  to  any  member,  for  or  on 
account  of  his  membership  in  such  company,  upon  dissolution, 
in  dividends,  or  in  any  other  manner,  in  addition  to  the  in- 
surance benefits  promised  in  the  policy,  any  sum  in  excess  of 
the  payments  made  by  the  member  with  interest  at  six  per 
cent  compounded  annually. 

2.  Upon  dissolution  of  any  such  corporation  any  assets  or 
property  held  by  it  in  excess  of  its  liability,  and  of  the  amounts 
which  may  be  paid  to  its  members  under  subsection  1,  shall  be 
paid  into  and  belong  to  the  school  fund  of  the  state,  as  a  license 
fee  charged  to  such  corporation  upon  dissolution. 

3.  Every  such  corporation  having  assets  in  excess  of  one 
per  cent  of  the  amount  of  its  insurance  in  force  shall,  before 
being  licensed  to  do  business  in  this  state,  file  with  the  applica- 
tion for  such  a  license  a  resolution  duly  adopted  by  its  board 
of  directors  and  signed  b}^  its  president  and  secretary,  wherein 
it  shall  agree  that  its  assets  shall  be  distributed  in  accordance 
with  subsections  1  and  2  of  this  section.  And  no  license  shall 
be  issued  to  such  company  until  after  the  adoption  and  filing 
of  such  resolution. 

4.  No  domestic  mutual  insurance  company  shall  be  reorgan- 
ized in  any  manner  into  a  corporation  with  capital  stock. 

Section  1897k  is  referred  to  in  section  1958  (i). 

1897s  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies;  transacting  insurance;   conditions; 
special  surplus  fund. 
Section   1897s.     No   domestic  insurance  company  shall  be- 
gin to  transact  the  business  of  insurance  until : 

(a)  It  shall  issue  simultaneously  policies  upon  one  hundred 
or  more  risks,  each  within  the  maximum  single  risk  prescribed 
in  section  1898;  or 

(b)  It  shall  hold  a  fund  in  excess  of  the  capital  stock,  if  any, 
in  cash  or  invested  as  provided  by  law,  equal  to  ten  times  the 
maximum  single  risk  to  be  assumed,  which  fund  shall  be  used 
for  the  payment  of  losses  only  and  may  be  repaid  only  after 
the  risks  outstanding  shall  exceed  the  minimum  prescribed  in 
section  1898d. 

(c)  It  shall  have  received,  in  cash,  one  annual  premium  upon 
each  risk  outstanding. 

Section  18978  is  referred  to  in  1897g,  1958  (i). 


^5  RISKS.  iS§'?t 

1897t  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies;  examination,  first;  certificates. 

Section  1897t.  No  domestic  insurance  company  shall  begin 
to  transact  insurance  until  the  same  shall  have  been  fully  ex- 
amined by  the  commissioner  of  insurance  and  he  shall  issue  a 
certificate : 

(a)  That  such  company  has  a  capital,  surplus  and  applica- 
tions for  risks  outstanding,  as  the  case  may  be,  and  as  required 
by  law ; 

(b)  That  its  funds  are  held  in  cash  or  invested  as  required  by 
law; 

(c)  That  those  making  applications  for  insurance  are  in  a 
position  to  perform  the  same; 

(d)  That  the  incorporators  and  proposed  directors  are  finan- 
cially responsible  for  and  understand  the  obligations  imposed 
upon  them  by  law ;  and 

(e)  That  said  company  has  fully  complied  with  all  require- 
ments of  the  law. 

Section  1897t  is  referred  to  in  section  1958  (i). 

1898  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies ;  risk ;  maximum  single ;  re-insurance. 

Section  1898.  1.  (a)  Except  as  otherwise  provided  by  law, 
the  maximum  single  risk  shall  be  ten  per  centum  of  the  ad- 
mitted assets. 

(b)  In  a  mutual  company  it  may  be  a  greater  amount  not 
exceeding  three  times  the  average  policy  or  one-eighth  of  one 
per  centum  of  the  insurance  in  force,  whichever  is  the  greater. 

(c)  Upon  the  business  mentioned  in  subsection  14  of  section 
1897,  in  a  stock  company,  it  shall  be  one-twentieth  of  the  paid 
up  capital. 

2.  Any  re-insurance  taking  effect  simultaneously  with  the 
policy  shall  be  deducted  in  determining  such  maximum  single 
risk. 

Section  1898  is  referred  to  in  1897i,  1897s  and  1898d,  18»8m  (i*), 
1958  (1). 

1898d  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Insurance  companies;  risks;  minimum  outstanding. 

Section  1898d.  The  minimum  of  risks  outstanding  shall  be 
two  hundred,  each  within  the  maximum  sittigle  risk  prescribed 
in  section  1898. 

Section  1898d  is  referred  to  in  1897i,  and  1897s,  1958  (i). 

1899  (Ch.  235, 1911,  in  effect  June  5,  1911.) 
Reserve  liabilities ;  order  of  commissioner. 

Section  1899.  a.  Where  no  other  provision  is  made  there- 
for by  law,  the  reserve  liabilities  of  any  insurance  companj^ 


l89§  Limitation^.    ,  ^^ 

shall  be  calculated  upon  such  basis,  method,  and  plan  as  shall 
fully  provide  for  all  such  liabilities. 

b.  Subject  to  such  review  in  the  courts  as  provided  by  law, 
any  such  basis,  method,  and  plan,  or  either,  fixed  by  the  order 
of  the  commissioner  of  insurance  made  and  filed  in  his  office, 
shall  be  prima  facie  just,  reasonable,  and  proper. 

Section  1899  is  referred  to  in  section  1958  (i). 

1900  (Ch.  154,  1911,  in  effect  May  13,  1911.) 

Policy  provisions,  limitation  of  action,  matter  incorporated 
to  be  recited  or  attached. 

Section  1900.  1.  No  policy  or  contract  of  insurance  shall 
be  made,  issued  or  delivered  in  this  state  containing  any  pro- 
vision : 

a.  Limiting  the  time  for  beginning  an  action  on  tjie  policy  or 
contract  to  a  time  less  than  that  prescribed  by  the  statutes  of 
limitations  of  this  state,  or  specifically  authorized  by  law. 

b.  Incorporating  into  the  policy  or  contract  any  matter  not 
fully  set  forth  therein,  or  in  a  copy  of  any  application,  or  of  any 
other  matter  attached  to  and  made  a  part  of  such  policy  or 
contract  at  the  time  of  its  delivery. 

Section  1900  is  referrea  to  in  section  1958  (i). 

1901J  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Mutual  companies;  expenses;  limitation;  exceptions. 

Section  1901  j.  Except  as  otherwise  provided  by  law  and 
excepting  companies  transacting  only  disability  insurance  no 
mutual  insurance  company  shall  pay  or  incur  in  any  year  any 
expense,  exclusive  of  investment  expenses,  taxes  and  fees,  in 
excess  of  fifty  per  centum  of  the  premiums  and  assessments 
collected  during  the  year;  or  in  excess  of  one-half  of  one  per 
centum  on  the  greatest  amount  of  insurance  in  force  at  any 
time  during  the  year,  whichever  is  the  greater. 

1901m  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Mutual  companies;  risks;  classification. 
Section  1901m.     A  mutual  insurance  company  may  classify 
the  property  or  risks  insured,  at  the  time  of  insuring  the  same, 
under  different  rates  corresponding  as  nearly  as  may  be  to  the 
greater  or  less  risks  which  may  be  attached  thereto. 

1901n  (Ch.  460,  1909,  in  effect  June  19,  1909.) 
Mutual  fire  companies;  policies;  term. 
Section  1901n.     Except  as  otherwise"  provided  by  law,  no 
mutual  fire  insurance  company  shall  make  any  contract  for  ia- 
surance  expiring  more  than  five  years  after  the  date  thereof. 


27  iNVEStMteNTS.  •  l9(J2 

1902  (1898  J  cii.  157,  1911,  in  ^ffdct  May  15,  i9il.) 
Investments  real  estate;  home  office;  sale;  extension;  re- 
newal. 

Section  1902.  i.  No  *  *  *  insurance  *  *  *  com- 
pany organized  under  any  gefieral  law  of  this  state  shall,  di- 
rectly or  indirectly,  deal  or  trade  in  buying  or  selling  any  goods, 
wares,  naerchandise  or  other  commodities  whatever,  excepting 
such  goods  or  articles  as  may  have  been  insured  by  such  cor- 
poration and  are  claimed  to  be  damaged  by  *  *  *  the  risk 
insured  against.     -     *     * 

2.  No  such  company  shall  acquire  or  hold  *  *  *  real  es- 
tate, excepting  for  the  purposes  and  in  the  manner  *  *  * 
following: 

a.  Such  as  shall  be  necessary  for  the  *  *  *  convenient 
*  *  *  transaction  of  its  business,  including  with  its  offices 
other  apartments  to  rent  as  a  source  of  income,  the  value  of  which 
shall  not  exceed  twenty  per  cent  of  its  admitted  assets.     *     *     * 

h.  Such  as  has  *  *  =*  been  or  shall  he  conveyed  or  mort- 
gaged to  it  in  good  faith  by  way  of  surety  for  loans  or  for  debts 
or  for  money  due  in  its  legitimate  business,  or  such  as  may  have 
been  purchased  at  sales  upon  judgments  or  mortgages  obtained 
or  made  for  such  debts  j     *     *     * 

3.  All  *  *  *  real  estate  «=  *  *  except  that  mentioned 
in  paragraph  a,  of  subsection  2 ,  shall  be  sold  or  disposed  of  he- 
fore  the  first  day  of  January^  1916,  or  within  *  *  *  five 
years  after  *  *  *  the  same  shall  have  heen  acquired,  *  *  * 
unless  such  time  he  extended  hy  *  *  *  the  commissioner  of 
insurance. 

4.  The  commissioner  of  insurance  m^y  upon  the  application 
of  the  company  showing  that  it  will  suffer  materially  from  a 
forced  sale  thereof,  *  *  *  authorize  tJie  postponement  of 
such  sale  for  such  period  as  he  shall  fix,  not  exceeding  five  years^, 

5.  Su^h  authority  may  he  renewed  from  time  to  time. 

1903  (1898;  ch.  267,  1909,  in  effect  June  4,  1909.) 
Domestic  companies,  investments;  capital. 

Section  1903.  1.  Any  domestic  insurance  corporation,  where 
no  other  provision  is  made  by  law,  may  invest  its  capital  as 
follows:  \  i         Ij    > 

a.  In  any  bonds  or  notes  secured  on  improved,  unencumbered 
real  estate  within  this  state  worth  at  least  fifty  per  centum 
more  than  the  sum  loaned  thereon,  exclusive  of  buildings  un- 
less such  buildings  are  kept  insured  to  an  amount  which  to- 
gether with  one-half  the  value  of  the  land  shall  equal  or  exceed 
the  loan,  and  the  policy  or  policies  of  insurance  thereon  be  as- 
signed to  and  held  by  said  corporation  as  collateral  to  such  loan. 


1^03  iNVBSTkEiN'fS.  28 

b.  Aiiy  lawfully  authorized  bonds  or  other  evidence  of  in- 
debtedness of  the  United  States,  or  of  any  state  of  the  United 
States.  •    ^     '    '    '    .    . 

c.  In  the  bonds  or  other  evidences  of  indebtedness  of  any  I 
county,  city,  town,  village,  or  school  district  of  any  state  or  ter- 
ritory of  the  United  States  or  of  the  District  of  Columbia. 

d.  In  the  first  mortgage  bonds  of  any  railroad  or  other  pub- 
lic service  corporation  of  any  of  the  states  in  which  said  insur- 
ance corporation  shall  be  doing  business  at  the  time  of  such 
investment. 

Funds  other  than  capital. 

2.  Any  other  funds  of  such  insurance  corporation  may  be  in-  1 
vested : 

a.  In  like  bonds  or  evidences  of  indebtedness  or 

b.  In  the  stocks  and  bonds  or  other  evidences  of  indebtedness 
of  any  solvent  dividend  paying  corporation  of  any  state  in 
which  said  insurance  corporation  shall  be  doing  business  at  the 
time  of  such  investment,  except  stock  in  its  own  corporation  or 
in  any  other  insurance  corporation. 

e.  IJpon  the  collateral  security  of  any  of  the  foregoing  se-  ^ 
curities,  provided  that  the  market  value  of  such  securities  shall, 
during  the  continuance  of  any  such  loan,  be  at  least  ten  per 
centum  more  than  the  sum  loaned  thereon. 

(1898;  ch.  267,  1909;  ch.  157,  1911,  in  effect  May  15,  1911.) 
Single  inlrestment,  limitation. 

3.  No  such  company  shall  invest  in,  acquire  or  hold,  directly 
or  indirectly,  more  than  ten  per  cent  of  the  capital  stock  of 
any  corporation,  nor  shall  more  than  ten  per  cent  of  its  *  *  * 
admitted  assets  be  invested  in  the  stock  or  securities  of  any  one 
corporation. 

1904  ^     r     :  -; 

Lien  and  stock  profits. 

Section  1904.  Any  insurance  corporation  may  have  a  lien 
upon  the  stock  or  certificate  of  profits  owned  by  any  n^ember 
for  any  debt  due  or  to  become  due  the  corporation  for  pre- 
miums by  providing  therefor  by  the  by-laws  and  by  stating  on 
the  face  of  the  certificate  of  stocks  or  profits  that  the  same  is 
subject  to  any  such  lien ;  and  such  lien  may  be  waived  in  writ- 
ing by  the  consent  of  the  president  of  such  corporation  upon 
the  transfer  of  any  such  stock. 


29  DIVIDENDS.  1905 

1905 

Re-insurance. 

Section  1905.  Every  corporation  shall  have  the  power  to 
effect  re-insurance  of  any  risks  taken  by  it  and  to  re-insure  the 
risks  taken  by  any  other  such  corporation.  But  no  stock  fire 
insurance  corporation  shall  expose  itself  to  any  loss  on  any  fire 
or  inland  navigation  risk  or  hazard  to  an  amount  exceeding 
ten  per  cent,  of  its  paid-up  capital,  exclusive  of  any  guaranty, 
surplus  or  special  reserve  fund. 

See  sections  1905a,  1905b,  1919d. 

1905a  (Ch.  394,  1903.)  '" 

Re-insurance  by  any  fire  company. 

Section  1905a.  It  shall  be  lawful  for,  and  any  fire  insurance 
company  or  association  authorized  to  transact  business  in  the 
state  of  Wisconsin,  is  hereby  fully  authorized  and  empowered 
to  re-insure  the  whole  or  any  part  of  any  fire  insurance  risk 
taken  by  it  on  any  property  situated  in  the  state  of  Wisconsin 
in  any  other  responsible  company  or  companies,  whose  capital 
stock  and  surplus  shall  equal  or  exceed  one  hundred  thousand 
dollars.  Provided,  any  fire  insurance  company  or  re-insurance 
company  licensed  to  do  business  in  the  state  of  Wisconsin  shall 
on  retiring  from  business  before  the  expiration  of  its  policies 
or  contracts,  file  with  the  insurance  commissioner  a  written 
notice  of  such  intention  together  with  a  sworn  statement  of  its 
outstanding  liabilities  or  obligations  under  such  policies  or 
contracts,  and  shall  re-insure  such  liabilities  or  obligations  in  a 
company  authorized  to  do  business  in  this  state.  All  laws,  acts 
and  parts  of  acts,  whether  general  or  special,  .contravening  or 
conflicting  with  the  provisions  of  this  act  are  hereby  repealed. 

1906 

Dividends ;  penalty  for  making  unauthorized. 

Section  1906.  The  directors,  trustees  or  managers  of  any 
fire  insurance  corporation  shall  not  make  any  dividend  except 
from  the  surplus  profits  arising  from  their  business;  and  in 
estimating  such  profits  there  shall  be  reserved  therefrom  a  sum 
equal  to  the  whole  amount  of  premiums  on  unexpired  risks  and 
policies,  which  are  hereby  declared  to  be  unearned  premiums; 
and  also  there  shall  be  reserved  all  sums  due  the  corporation  on 
bonds  and  mortgages,  stocks  and  book  accounts,  of  which  no 
part  of  the  interest  or  principal  thereon  has  been  paid  during 
the  last  year  and  for  which  no  suit  or  foreclosure  has  been  com- 
menced for  collection,  or  which,  after  judgment  thereon  ob- 
tained, shall  have  remained  more  than  two  years  unsatisfied  and 


1906  DIVIDENDS.  30 

on  which  interest  shall  not  have  been  paid ;  and  also  there  shall 
be  reserved  all  interest  due  or  accrued  and  remaining  unpaid; 
provided,  however,  that  any  corporation  may  declare  dividends, 
not  exceeding  ten  per  cent,  on  its  capital  stock  in  any  one  year, 
that  shall  have  accumulated  and  be  in  possession  of  a  fund  in 
addition  to  the  amount  of  its  capital  stock  and  of  such  dividend 
and  all  actual  outstanding:  liabilities  equal  to  one-half  of  all 
premiums  on  risks  not  terminated  at  the  time  of  making"  such 
dividend.  Any  corporation  making. any  dividend  contrary  to 
the  forep:oing  provisions  shall  be  liable  to  a  forfeiture  of  its 
charter,  and  each  stockholder  receiving  it  shall  be  liable  to  the 
creditors  of  such  corporation  to  the  extent  of  the  dividend  re- 
ceived, as  well  as  to  the  penalties  in  such  cases  made  and  pro- 
vided. This  section  shall  not  apply  to  the  declaration  of  scrip 
dividends  by  participating  companies;  but  no  such  scrip  divi- 
dends shall  be  paid  except  from  surplus  profits  after  reserving 
all  sums  as  above  provided,  including  the  whole  amount  of  pre- 
miums on  unexpired  risks.  The  word  year,  wherever  used  in 
this  section,  shall  mean  the  calendar  year. 
Compare  with  section  1906a. 

1906a  (Sec.  1,  ch.  166.  1899.) 

Dividends;  penalty  for  making  unauthorized. 

Section  1906a.  Any  stock  fire  insurance  company  doing 
business  or  organized  under  the  laws  of  this  state  may  declare 
dividends  not  exceeding  ten  per  centum  of  its  capital  stock  in* 
atiy  one  year,  if  in  addition  to  the  amount  of  its  capital  stock, 
plus  ten  per  centum  of  the  capital  stock,  and  of  such  dividends 
and  all  of  its  outstanding  liabilities,  it  shall  have  accumulated 
and  be  in  possession  of  a  lawful  fund  equal  to  the  amount  of  all 
unearned  premiums  on  risks  not  terminated  at  the  time  of  mak- 
ing such  dividend.  No  dividends  in  excess  of  said  per  cent,  of 
its  capital  stock  shall  be  deelared  until  such  corporation  shall 
be  in  possession  of  a  net  surplus  equal  to  one-half  of  its  capital 
stock,  which  surplus  in  no  event  shall  be  less  than  one  hundred 
thousand  dollars.  Any  dividend  made  contrary  to  the  provi- 
sions of  this  section  shall  work  a  forfeiture  of  the  charter  of  the 
corporation  making  such  dividend,  and  each  stockholder  re- 
ceiving such  dividend  shall  be  liable  to  the  creditors  of  the  cor- 
poration to  the  extent  of  the  dividend  received  in  addition  to 
the  other  penalties  and  punishments  prescribed  by  law.  The 
word  *'year,"  whenever  used  in  this  section,  shall  not  be  con- 
strued to  mean  the  calendar  year. 

Section  J906a  is  referred  to  I»  section  1908a. 


31  DIVIDENDS.  1908 

1908  (1898;  ch.  460,  1909,  in  effect  June  19,  1909.) 

Stock  companies;  capital;  increase;  amendment  to  articles; 
examination. 

Section  1908.  UnlesvS  otherwise  provided  in  the  articles  no 
insurance  corporation  shall  increase  its  capital  stock  without  the 
written  consent  of  the  holders  of  three-fourths  of  the  capital 
stock  outstanding.  The  amendment  of  its  articles  increasing 
its  capital  stock  shall  be  adopted  as  otherwise  provided  by  law, 
and  shall  not  be  filed  bv  the  commissioner  of  insurance  until 
after  he  shall  have  made  the  same  examination,  in  the  same 
manner,  and  on  the  same  conditions,  as  upon  the  organization  or 
admission  of  a  like  corporation. 

Compare  section  1908  with  1908a. 

1908a  rSec.  2,  ch.  166;  1899;  ch.  663,  1911,  in  effect  July  21, 
1911.) 
Increase  of  capital  stock;  stock  dividends. 

Section  1908a.  Any  stock  insurance  corporation  orcranized 
under  the  laws  of  this  state,  or  heretofore  organized  and  doing 
business  under  the  laws  of  this  state,  whenever  it  shall  have 
accumulated  and  be  in  possession  of  a  fund,  in  addition  to  the 
amount  of  its  capital  stock  and  all  actual  outstanding  liabilities, 
including  re-insurance  reserve,  in  excess  of  one-half  of  the 
amount  of  all  premiums  on  risks  not  terminated,  such  corpora- 
tion may  increase  its  capital  stock  from  such  fund,  and  dis- 
tribute said  increase  pro  rata  to  the  stockholders  of  such  cor- 
poration; provided  always  that  such  increase  shall  be  equal  to 
at  least  twentv-five  per  centum  of  the  original  canital  stock  of 
said  corporation  and  shall  have  been  authorized  by  at  least 
three-fourths  of  the  members  of  the  board  of  direc+ors  of  such 
corporation  and  approved  by  the  commissioner  of  insurance: 
and,  provided,  also,  that  anv  such  corporation  may  hereafter 
make  and  declare  a  dividend  as  provided  in  *  *  *  section 
1908. 

See  sections  1906a,  1908. 

1908m  ^Chs.  66  and  664,  1911,  in  effect  May  4  and  July  22, 
1911.) 
Consolidation  of  domestic  fire  corporations. 

Section  1908m.  1.  a.  Any  two  fire  insurance  corporations 
organized  under  any  law  of  this  state  may  merge  or  consolidate 
such  corporations  into  one  corporation  under  the  name  of  one 
or  more  of  the  corporations. 

b.  The  corporations  may  enter  into  and  make  an  agreement 
for  such  merger  or  consolidation,  executed  under  their  cor- 
porate seals  by  the  president  and  secretary,  by  \,h(^  authority 
of  the  board  of  directors  of^  ^ach  respectively,  ,      . 


1908m  CAPITAL  STOCK.  INCREASE.  32 

c.  Such  a^eement  shall  recite  the  articles  of  organization 
under  which  the  business  of  the  merged  or  consolidated  cor- 
poration is  to  be  conducted,  which  shall  conform  to  the  provi- 
sions of  either  one  or  more  of  the  articles  of  the  merging  or 
consolidating  corporations,  or  otherwise  conforming  to  the  re- 
quirements for  the  articles  of  organization  of  like  corporations 
organized  under  the  laws  of  this  state. 

d.  The  capital  shall  not  be  larger  than  the  aggregate  paid  up 
capital  of  the  merged  or  consolidated  corporation  unless  the 
provisions  of  section  1908  shall  have  been  complied  with  by 
each  of  the  consolidating  corporations.  The  same  fee  shall  be 
paid  for  an  increase  of  the  capital  above  such  aggregate  paid 
up  capital,  as  in  other  cases  on  amendment  of  articles  of  in- 
corporation under  section  1774. 

e.  Such  agreement  must  be  assented  to  by  a  vote  of  a  ma- 
jority of  all  the  directors  of  each  corporation  and  must  be  ap- 
proved by  the  votes  of  stockholders,  in  person,  or  by  proxy, 
owning  at  least  two-thirds  of  the  stock  of  each  corporation,  at 
a  meeting  called  separately  for  that  purpose. 

f.  A  notice  stating  the  time,  place,  and  object  of  the  meeting, 
shall  be  served  upon  each  stockholder  personally  or  mailed  to 
him  at  his  last  known  postoffice  address  at  least  thirty  days 
prior  to  the  date  of  holding  such  meeting,  and  shall  also  be 
published  at  least  once  a  week  for  four  weeks  successively  in 
some  newspaper  printed  in  the  city  where  such  corporation  has 
its  principal  office. 

2.  a.  Such  agreement,  with  the  certificate  of  the  secretaries 
of  the  respective  corporations,  under  the  seals  thereof,  reciting 
compliance  with  the  provisions  of  this  section,  shall  be  filed 
with  the  commissioner  of  insurance  and  may  be  approved  by 
him,  after  such  examination  as  he  may  order  or  require. 

b.  Such  agreement,  after  having  received  the  approval  of  the 
commissioner  of  insurance,  shall  have  such  approval  endorsed 
thereon  and  a  duplicate  of  such  agreement,  with  a  certificate 
of  the  commissioner  showing  the  date  when  such  agreement 
was  approved  and  filed  by  the  commissioner  of  insurance ;  shall 
be  recorded  by  the  register  of  deeds  of  each  county  wherein 
any  of  such  merged  or  consolidated  companies  are  located,  as 
in  the  case  of  the  making  of  any  amendment  to  the  articles  of 
such  corporation. 

c.  Such  merger  and  consolidation  shall  be  deemed  effective 
upon  the  filing  of  such  duplicate  for  record  in  each  and  all  such 
counties,  and  thereafter  the  articles  of  organization  recited  in 
such  agreement  shall  stand  as  the  articles  of  organization  of 
such  consolidated  corporation  subject  to  amendment  as  in  other 


33  CAPITAL   STOCK,   INCREASE.  1908m 

3.  The  corporation  may  require  the  return  of  the  ori^nal 
certificates  of  stock  held  by  each  stockholder  in  each  of  the 
corporations  to  be  merged  or  consolidated,  and  issue  in  lieu 
thereof  new  certificates  for  such  number  of  shares  of  its  own 
stock  as  such  stockholders  may  be  entitled  to  receive. 

4.  All  the  rights,  franchises,  and  interests  of  the  corporations 
so  merging  or  consolidating  in  and  to  eve^y  species  of  property 
and  things  in  action  belonging  to  them,  or  either  of  them,  shall 
be  deemed  to  be  transferred  to  and  vested  in  the  new  corpora- 
tion, without  any  other  deed  or  transfer,  and  the  new  corpora- 
tion shall  hold  and  enjoy  the  same  to  the  same  extent  as  if  the 
old  corporations,  or  either  of  them,  should  have  continued  to 
retain  their  titles  and  transact  business. 

5.  a.  The  consolidated  corporation  shall  succeed  to  all  the 
obligations  and  liabilities  of  the  old  corporations,  or  any  of 
them,,  and  shall  be  held  liable  to  pay  and  discharge  all  such 
debts  and  liabilities  in  the  same  manner  as  if  they  had  been  in- 
curred or  contracted  by  it. 

r  b.  The  stockholders  of  the  old  corporations  shall  continue 
subject  to  all  the  liabilities,  claims,  and  demands  existing^ 
against  them,  or  either  of  them,  at  or  before  such  merger  or 
consolidation. 

c.  No  action  or  proceeding  pending  at  the  time  of  the  con- 
solidation in  which  any  or  all  of  the  old  corporations  may  be  a 
party  shall  abate  or  discontinue  by  reason  of  the  merger  or  con- 
solidation, but  the  same  may  be  prosecuted  to  final  judgment 
in  the  same  manner  as  if  the  merger  or  consolidation  had  not 
taken  place,  or  the  new  corporation  may  be  substituted  in  place 
of  any  corporation  so  merged  or  consolidated  by  order  of  the 
court  in  which  the  action  or  proceeding  may  be  pending. 

6.  The  consolidated  corporation  shall  be  deemed  a  corpora- 
tion organized  under  chapters  86  and  89  of  the  statutes, 
*  *  *,  and  shall  possess  all  of  the  rights  and  be  subject  to 
all  of  the  liabilities  of  stock  corporations  organized  under  said 
chapters. 


GUARANTY  SURPLUS  FUND   AND   SPECIAL  RESERVE 

FUND. 

1909 

How  created;  commissioner's  duty. 

Section  1909.     Any  fire  insurance  corporation  now  or  here- 
after  organized   may   create   the   funds  to  be   known   as  the 
guaranty  surplus  fund  and  th6  special  reserve  fund  by  the 
3—1.  L. 


1909  GUARANTY  SURPLUS  FUND.  "  34 

adoption  of  a  resolution  of  its  board  of  directors  at  a  regular 
meeting  thereof  and  by  filing  a  copy  thereof  with  the  com- 
missioner of  insurance,  declaring  the  desire  and  intention  of 
such  corporation  to  create  such  funds  and  do  business  under 
the  provisions  of  this  chapter  therefor.  Thereupon  the  com- 
missioner shall  make  or  cause  to  be  made  an  examination  of 
such  corporation  and  make  a  certificate  of  the  result  thereof, 
which  shall  particularly  set  forth  the  amount  of  its  surplus 
funds  at  that  time  which  may,  under  the  provisions  of  the 
next  section,  be  equally  divided  between  and  set  apart  to  con- 
stitute such  funds,  which  certificate  shall  be  recorded  in  the 
insurance  department.  After  the  date  of  the  recording  of 
such  certificate  all  policies  and  renewals  issued  by  such  cor- 
poration shall  have  printed  thereon  a  notice  that  they  are 
issued  subject  to  the  provisions  of  sections  1909  to  1913  inclu- 
sive of  these  statutes. 

Section  1909  is  referred  to  in  sections  1909,  1941 — 64. 

1910 

Dividends:  surplus,  aiid  rule  for  estimating. 

Section  1910.  Thereafter  no  such  corporation  shall  declare 
or  pay  in  any  form  any  dividend  exceeding  seven  per  cent, 
per  annum  upon  its  capital  stock  until  after  its  guaranty  sur- 
plus fund  and  its  special  reserve  fund  shall  have  together  ac- 
cumulated to  an  amount  equal  to  its  said  capital  stock;  and 
the  entire  surplus  profits  of  such  corporation,  above  such  an- 
nual dividend,  shall  be  equally  divided  between  and  be  set 
apart  to  constitute  the  said  funds,  which  shall  be  held  and 
used  as  hereinafter  provided  and  not  otherwise ;  and  any  such 
corporation  which  shall  declare  or  pay  any  dividend  contrarv^ 
to  the  provisions  of  this  section  shall  be  liable  to  be  proceeded 
against  by  the  attorney- general  for  its  dissolution.  In  esti- 
mating such  surplus  profits  for  the  purpose  of  making  a  divi- 
sion thereof  between  said  funds  there  shall  be  deducted  from 
the  gross  assets  of  the  corporation,  including  for  this  purpose 
the  amount  of  the  special  reserve  fund,  the  sum  of  the  follow- 
ing items : 

1.  The  amount  of  all  outstanding  claims. 

2.  An  amount  sufficient  to  meet  its  liability  for  the  unearned 
premiums  received  on  policies  having  less  than  one  year  to  run 
from  date  of  policy  and  a  pro  rata  proportion  of  the  pre- 
miums received  on  the  policies  having  more  than  one  year  to 
run  from  date  of  policy,  which  shall  be  known  as  the  re- 
ihsurance  liability. 

3.  The  amount  of  its  guaranty  surplus  fund  and  of  its  spe- 
cial reserve  fund. 


35  GUARANTY   SURPLUS  FUND.  1910 

• 

4.  The  amount  of  the  capital  of  the  corporation. 

5.  Interest  at  the  rate  of  seven  per  cent,  per  annum  upon 
the  amount  of  the  capital  for  whatever  time  shall  have  elapsed 
since  the  last  preceding  cash  dividend;  and  the  balance  shall 
constitute  such  divisible  surplus. 

Section  1910  is  referred  to  in  sections  1909,  1912,  1941 — 64. 

1911 

Investment  of  surplus. 

Section  1911.  The  said  guaranty  surplus  fund  shall  be  in- 
vested in  the  same  manner  as  capital  on  surplus  accumulations 
may  be  and  shall  be  held  liable  and  applicable  in  the  same 
manner  as  the  capital  stock  to  the  payment  of  the  losses  gen- 
erally ;  and  such  special  reserve  fund  shall  be  invested  only  as 
capital  stock  may  be.  and  shall  be  deposited  from  time  to  time 
as  the  same  shall  accumulate  and  be  invested  with  the  state 
treasurer,  who  shall  permit  said  corporation  to  collect  and 
receive  the  interest  or  dividends  upon  such  securities  as  the 
same  may  accrue;  but  no  such  securities  so  deposited  shall  be 
withdrawn  unless  others  of  equal  amount  and  value  are  sub- 
stituted therefor ;  and  such  special  reserve  fund  shall  be  deemed 
a  fund  contributed  by  the  stockholders  to  protect  such  cor- 
poration and  its  policyholders,  other  than  claimants  for  losses 
already  existinar  or  then  incurred,  in  case  of  such  extraordi- 
uarv  conflagrations  as  are  mentioned  in  the  next  section;  and 
said  fund  shall  not  be  regarded  as  any  part  of  the  assets  of 
said  corporation  so  as  to  be  liable  for  any  claims  for  losses  ex- 
cept as  hereinafter  provided. 

Section  1911  is  referred  in  sections  1909,  1941 — 64. 

1912 

Application  of  reserve;  safety  fund;   discharge  of  com- 
pany's liability. 

Section  1912.  In  the  event  of  an  extensive  conflagration 
whereby  the  claims  upon  any  such  corporation  shall  exceed  the 
amount  of  the  capital  stock  and  of  its  guaranty  surplus  fund, 
the  corporation  shall  notify  the  commissioner  of  insurance 
thereof,  who  shall  then  make,  or  cause  to  be  made,  an  exami- 
nation of  the  corporation,  and  shall  issue  his  certificate  of  the 
result  in  duplicate  showing  the  amounts  of  capital,  of  guar- 
anty surplus  fund,  of  special  reserve  fund,  or  re-insurance  lia- 
bility and  of  other  assets,  one  copy  to  be  given  to  the  corpora- 
tion and  one  to  be  recorded  in  the  insurance  department; 
thereupon  the  said  special  reserve  fund  shall  be  immediately 
held  to  protect  all  policyholders,  other  than  such  as  are  claim- 


1912  GUARANTY   SURPLUS   FUND.  36 

ants  upon  it  at  the  time  or  such  as  become  claimants  in  conse- 
quence of  such  conflagration,  and  the  amount  of  such  special 
reserve  fund  and  an  amount  equal  to  the  unearned  premiums 
of  such  corporation,  to  be  ascertained  as  provided  in  section 
1910,  shall  constitute  the  capital  and  assets  of  such  corpora- 
tion for  the  protection  of  policyholders  other  than  such  claim- 
ants and  for  the  further  conduct  of  its  business ;   and  such 
certificate  of  the  commissioner  shall  be  binding  and  conclusive 
upon  all  parties  interested,  vs^hether  as  stockholders,  creditors 
or  policyholders,  and  upon  payment  to  the  claimants  for  losses 
or  otherwise  existing  at  the  time  of  or  caused  by  such  general 
conflagration   of  the   amount  to  which  they   are  respectively 
entitled,  in  proportion  to  their  several  claims,  of  the  full  sum 
of  the  capital  of  such  corporation,  its  guaranty  surplus  fund 
and  its  assets,  excepting  only  such  special  reserve  fund  and 
an  amount  of  its  assets  equal  to  its  liability  for  unearned  pre- 
miums as  so  certified,  such  corporation  shall  be  forever  dis- 
charged from  any  and  all  further  liability  to  such  claimants 
and  to  each  of  them;  and  the  state  treasurer  shall,  after  issu- 
ing such  certificate  by  the  commissioner,  upon  the  demand  of 
such  corporation,  transfer  to  it  all  such  securities  as  it  shall 
have  deposited  with  him  as  such  special  reserve  fund;  and  if 
the  amount  of  such  special  reserve  fund  be  less  than  fifty  per 
cent  of  the  full  amount  of  the  capital  of  the   corporation  a 
requisition  shall  be  issued  by  the   commissioner  of  insurance 
upon  the  stockholders  to  make  up  such  capital  to  that  pro- 
portion of  its  full  amount  in  the  manner  provided  by  law  in 
the  case  of  corporations  v/ith  impaired  capitals ;  and  any  capi- 
tal so  impaired  shall  be  made  up  to  at  least  the  sum  of  two 
hundred  thousand  dollars ;  and  in  case  such  corporation,  after 
such  requisition,  shall  fail  to  make  up  its  capital  to  at  least 
said  amount  of  two  hundred  thousand  dollars  as  herein   di- 
rected, said  special  reserve  fund  shall  still  be  held  as  security 
and  liable  for  any  and  all  losses  occurring  upon  policies  of 
such  corporation  after  such  conflagration. 

Section  1912  is  referred  to  in  sections  1909,  1941—64. 

1913 

Restoration  of  capital. 

Section  1913.  If  at  any  time  after  said  special  reserve  fund 
shall  have  been  set  apart  by  any  corporation  it  shall  appear 
upon  examinaiton  by  the  commissioner  of  insurance  that  the 
capital  of  such  corporation  has,  without  the  occurrence  of  any 
such  extensive  conflagration  become  impaired  so  that  he  shall 
order  a  call  upon  the  stockholders  to  make  up  such  impair- 


37  HE-INSURANCE,  Id  13 

ment,  the  board  of  directors  may  either  require  the  necessary 
payment  by  the  stockholders  or  at  their  option  apply  for  that 
purpose  so  much  of  said  special  reserve  fund  as  will  make  such 
impairment  good. 

Section  1913  is  referred  to  in  sections  1909,  1941 — 64. 

1914 

Scope  of  chapter. 

Section  1914.  All  fire  or  fire  and  inland  navigation  or 
transportation  insurance  companies  organized  under  any  law 
of  this  state  shall  be  subject  to  all  the  provisions  of  this  chap- 
ter (Ch.  89,  Statutes  of  1898)  properly  applicable  thereto,  ex- 
cept that  their  capitals  may  continue  of  the  amount  and  char- 
acter provided  by  their  respective  charters,  during  the  term 
authorized  by  such  charters,  and  their  investments  may  re- 
main as  prescribed  by  their  charters,  and  they  shall  enjoy 
any  peculiar  privileges  and  powers  given  in  their  charters  not 
inconsistent  with  this  chapter. 


RE-INSURANCE  CORPORATIONS. 

1914a  (Ch.  232,  1901;  ch.  206,  1905.) 

Organization  and  admission;  fees  and  taxes. 
Section  1914a.  Any  number  of  residents  of  this  state,  not 
less  than  nine,  may  form  a  corporation  for  the  purpose  of 
transacting  the  business  of  re-insurance;  such  re-insurance 
company  shall  transact  business  only  -with  authorized  insur- 
ance companies  and  not  through  agent's,  and  such  re-insur- 
ance may  include  all  classes  and  kinds  of  insurance  permitted 
by  the  statutes,  provided,  however,  that  any  re-insurance  com- 
pany organized  or  admitted  to  transact  more  than  one  class 
or  kind  of  re-insurance,  shall  be  required  to  have  an  aggre- 
gate capital  equal  to  the  capital  now  required  by  law  for  each 
kind  or  class  of  insurance,  and  shall  be  required  to  hold  re- 
*  serves  in  the  same  amount  and  manner  as  now  required  for 
each  such  kind  or  class  of  insurance  which  by  the  provisions  of 
its  charter,  it  is  authorized  to  transact;  such  re-insurance  com- 
pany may  be  incorporated,  and  foreign  re-insurance  companies 
may  be  admitted  to  transact  business  in  this  state,  in  the  same 
manner  as  fire,  life,  casualty  and  surety  corporations  are  now 
provided  for  and  shall  comply  with  the  same  laws  regulating 
such  corporations  so  far  as  the  same  may  be  applicable.  Such 
re-insurance  company  shall  pay  the  same  fees  and  taxes  re- 
quired to  be  paid  b}^  fire  insurance  companies,  and  shall  within 


1914a  FOREIGN  FIRE   COMPANIES.  38 

the  month  of  January  of  each  year,  file  an  annual  statement 
of  its  business  with  the  department  of  insurance,  showing  its 
condition  on  the  thirty-first  day  of  December  of  the  preceding 
year.  , 

1915  (1898;  ch.  277,  1911,  in  effect  June  9,  1911.) 
Admission  of  foreign  companies ;  conditions. 

Section  1915.  1.  No  *  '^  ^  company  incorporated  un- 
der the  laws  of  any  other  state  or  of  any  territory  or  of  any- 
foreign  government  or  other  insurer  Jtaving  its  home  office  out- 
side of  this  state  shall,  directly  or  indirectly,  take  risks  or 
transact  any  business  of  insurance  in  this  state  except  upon 
compliance  with  and  maintenance  of  the  following  require- 
ments : 

*  *  *  (a)  If  a  stock  company,  it  shall  be  possessed  of 
*  *  *  an  actual  paid  up  *  *  *  cash  capital  *  *  * 
equal  to  that  required  of  like  companies  organized  under  the 
laws  of  this  state     *     '"     * 

(b)  Mutual  companies  may  he  admitted  subject  to  the  same 
requirements  as  to  solvency  and  the  same  limitations  as  to  ex- 
penses as  like  companies  of  this  state. 

(c)  Lloyds  *  «=  *  associations,  *  *  *  may  be  ad- 
mitted by  complying  in  all  respects  with  the  laws  applicable 
to  fire  insurance  corporations  organized  under  the  laws  of  any 
foreign  government. 

(d)  Individual  firms  and  corporations  who  make  contracts  of 
insuratice  among  themselves  on  their  own  property  or  risks  on 
the  reciprocal  or  inter-insurance  plan,  shall  not  he  required  to 
act  through  a  resident  agent  or  use  the  standard  fire  policy,  hut 
any  contract  or  policy  insuring  against  loss  hy  fire  shall  contain 
in  substance  the  provisions  of  the  standard  fire  policy. 

(e)  The  commissioner  of  insurance,  before  issuing  a  license 
for  the  admission  of  any  corporation  or  association,  shall  make 
a  i)ersonal  examination  of  the  affairs  and  financial  condition 
thereof,  and  if  found  to  meet  the  conditions  and  requirements 
of  law  shall  issue  such  certificate  of  admission. 

Removal  of  cause;  service  of  process. 

2.  It  shall  first  file  a  written  instrument,  duly  signed  by  the 
l)resident  and  secretary  thereof,  with  the  corporate  seal  affixed 
declaring  that  it  desires  to  transact  the  business  of  insurance 
in  this  state  and  that  it  will  accept  a  license  therefor  accord- 
ing to  the  laws  of  this  state,  which  shall  cease  and  terminate 
in  case  such  corporation  shall  remove  or  make  application  to 
remove  into  any  court  of  the  United  States  any  action  or  pro- 


i^9  FOREIGN  FIRE  COMPANIES.  l9l5 

ceeding  commenced  in  any  court  of  this  state  upon  a  claim  or 
cause  of  action  arising  out  of  any  business  or  transaction  done 
therein,  or  in  case  it  shall  violate  or  fail  to  comply  with  any 
provision  of  law  applicable  to  such  corporation,  or  in  case  its 
capital  shall  be  impaired  to  the  extent  of  twenty  per  cent., 
and  shall  not  be  made  good  within  such  time  as  the  commis- 
sioner of  insurance  shall  require,  if  such  commissioner  shall,  in 
either  case,  declare  its  license  revoked  therefor.  Such  corpora- 
tion shall  also  appoint,  in  writing,  the  commissioner  of  insur- 
ance or  his  successors  in  office  to  be  its  true  and  lawful  attor- 
ney upon  whom  all  legal  process  in  any  action  or  proceeding 
against  it  may  be  served,  and  in  such  writing  shall  agree  that 
any  legal  process  against  it  which  is  served  on  said  attorney 
shall  be  of  the  same  legal  force  and  validity  as  if  served  on  the 
coropration,  and  that  such  authority  shall  continue  in  force  so 
long  as  there  is  any  liability  outstanding  against  the  corpora- 
tion in  this  state.  A  copy  of  such  writing,  duly  certified,  shall 
be  filed  in  the  office  of  the  commissioner,  and  copies  certified 
by  him  shall  be  deemed  sufficient  evidence  thereof.  Service 
upon  such  attorney  shall  be  deemed  sufficient  service  for  all 
purposes  upon  the  principal,  and  shall  be  as  effectual  for  all 
purposes  as  though  made  upon  a  corporation  existing  under 
the  laws  of  this  state.  When  legal  process  against  any  such 
corporation  is  served  upon  the  commissioner  he  shall  inimedi- 
ately  notify  the  corporation  of  such  service  by  letter  prepaid 
and  directed  to  its  secretary,  or,  in  case  of  a  corporation  of  a 
foreign  country,  the  resident  manager,  if  any,  in  this  country, 
and  shall,  within  two  days  after  such  service  forward,  in  the 
same  manner,  a  copy  of  the  process  served  on  him  to  such  sec- 
retary or  manager  or  to  any  person  previously  designated  by 
the  corporation  in  writing.  The  plaintiff,  for  each  process  so 
served,  shall  pay  to  the  commissioner,  at  the  time  of  such  serv- 
ice, a  fee  of  two  dollars,  which  shall  be  recovered  by  him  as  a 
part  of  the  taxable  costs  if  he  prevails  in  the  suit.  The  com- 
missioner shall  keep  a  record  of  all  process  served  on  him, 
which  record  shall  show  the  day  and  hour  when  such  service 
was  so  made. 

Copy  of  charter  and  statement. 

3.  It  shall  file  in  the  office  of  said  commissioner  a  copy  of 
its  charter,  duly  certified  by  its  secretary,  together  with  a 
statement  verified  by  the  oath  of  the  president,  vice-president 
or  other  chief  officer  and  of  the  secretary,  containing  the  name 
of  the  corporation,  place  where  located,  amount  of  its  capital 
stock,  and  a  detailed  statement  of  its  assets  showing  the  amount 


1915  FOREIGN   FIRE  COMPANIES.  46 

of  cash  on  hand  and  in  bank,  the  amount  of  real  estate  and  how 
much  of  the  same  is  incumbered  by  mortgage  or  otherwise,  the 
number  of  shares  of  stock  of  every  kind  owned  by  it,  the  par 
and  market  value  of  the  same,  the  amount  loaned  on  bond  and 
mortgage  and  other  securities,  stating  the  kind  and  amount 
loaned  on  each,  the  estimated  value  of  the  whole  amount  of 
such  securities  and  all  its  other  assets  or  property  and  the  value 
thereof;  also  showing  the  amount  of  its  indebtedness,  the 
amount  of  losses  adjusted  and  unpaid,  the  amount  incurred 
and  in  process  of  adjustment,  the  amount  resisted  as  illegal 
or  fraudulent  and  all  other  claims  existing  against  it;  and  a 
copy  of  the  last  report,  if  any,  made  under  any  law  of  the  state 
by  which  it  was  incorporated. 

Conditions  as  to  companies  organized  under  foreign  gov- 
ernments. 
4.  Every  such  corporation  organized  under  the  laws  of  any 
foreign  government  shall,  in  addition  to  the  foregoing,  file  in 
the  office  of  said  commissioner  a  statement,  verified  by  the 
oath  of  its  president,  secretary  or  manager  residing  in  the 
United  States,  showing  to  his  satisfaction  that  such  corpora- 
tion has  invested  in  the  bonds  of  the  United  States  or  of  the 
states  of  New  York  or  Wisconsin,  such  bonds  to  produce  at 
least  the  average  current  rate  of  interest  on  such  securities  or 
in  bonds  or  mortgages  on  unincumbered  real  estate  worth 
fifty  per  cent,  more  than  the  amount  loaned  thereon,  the  sum 
of  at  least  two  hundred  thousand  dollars,  and  that  such  bonds 
are  deposited  with  the  superintendent  of  the  insurance  depart- 
ment or  other  proper  officer  of  some  one  of  the  states  of  the 
United  States,  or  are  held  by  citizens  of  the  United  States  as 
trustees,  and  that  such  securities  are  not  pledged  or  incum- 
bered, but  are  held  and  remain  for  the  benefit  and  security  of 
the  policy  holders  of  such  corporation  residing  in  the  United 
States;  or  in  default  of  such  statement  shall  deposit  with  the 
state  treavsurer,  for  the  benefit  and  security  of  policy  holders 
residing  in  the  United  States,  a  sum  not  less  than  fifty  thou- 
sand dollars  in  bonds  of  the  United  States  or  of  the  state  of 
Wisconsin  producing  the  rate  of  interest  aforesaid,  said  bonds 
not  to  be  received  by  said  treasurer  at  a  rate  above  their  par 
or  current  market  value,  or  in  bonds  and  first  mortgages  on 
improved  unincumbered  real  estate  in  this  state  worth  fifty 
per  cent,  more  than  the  amount  loaned  thereon.  The  bonds 
and  r'^iirities  so  deposited  may  be  exchanged  from  time  to 
time  lor  other  securities  receivable  as  aforesaid;  and  so  long 
as  the  corporation   so   depositing  shall  continue  solvent  and 


41  FOREIGN  FIRE   COMPANIES.  1915 

comply  with  the  laws  of  this  state  it  may  be  permitted  by  the 
state  treasurer  to  collect  the  interest  or  dividends  on  said  de- 
posit;  and  where  deposit' is  made  of  bonds  or  mortorapjes  ac- 
companied by  full  abstracts  of  titles  the  fees  for  an  examina- 
tion of  title  by  counsel,  to  be  paid  by  the  party  making  the 
deposit,  shall  not  exceed  twenty  dollars  for  each  mortgage; 
and  the  fees  for  an  appraisal  of  property  shall  be  five  dollars 
to  each  appraiser,  not  exceeding  two,  besides  expenses,  for 
each  mortgage. 

Renewal  of  statements;  report. 

5.  It  shall  renew  from  year  to  year,  in  such  manner  and 
form  as  may  be  required  by  the  commissioner  of  insurance,  the 
statements  and  evidences  of  investments  and  deposits  above 
required  and  shall  make  and  file  the  annual  statement  and 
report  required  by  section  1920  so  long  as  it  shall  transact 
business  in  this  state. 

Certificates. 

6.  It  shall  first  procure  from  the  state  treasurer  a  certificate 
for  the  deposit  so  made,  when  required  by  the  foregoing  pro- 
visions; and  from  the  commissioner  a  certificate  of  authority 
stating  that  such  corporation  has  complied  with  all  the  pro- 
visions of  this  chapter  applicable  to  it. 

(1898:  ch.  277,  1911,  in  effect  June  9,  1911.) 
License  fees. 

7.  It  shall  pay  to  the  state  treasurer  the  license  fees  required 
to  be  paid  by  *  *  *  law  at  the  time  and  in  the  manner 
therein  prescribed. 

(Ch.  277,  1911,  in  effect  June  9,  1911.) 
Notice  and  hearing  on  application. 

8.  Before  any  insurance  company,  not  at  the  time  licensed 
to  transact  insurance  in  this  state,  shall  be  admitted  or  licensed 
to  transact  the  business  of  insurance  therein,  a  notice  of  its 
anpli cation  for  that  purpose  shall  be  published  at  the  expense 
of  the  company  at  least  once  in  each  week  for  three  successive 
weeks  in  two  newspapers  to  be  designated  by  the  commis- 
sioner, which  notice  shall  fix  a  time  and  place  of  hearing  on 
such  application  before  the  commissioner,  and  prior  to  which 
any  person  interested  may  file  any  statement  giving  informa- 
tion relative  to  the  condition  of  such  company  or  the  manner 
of  transacting  its  business,  and  any  objection  to  the  admission 
or  licensing  of  such  company,  and  any  person  filing  such  state- 


1915  LICENSE,  ISSUE,  REVOCATION.  42 

merit,  shall  be  entitled  to  be  heard  before  the  commissioner  on 
the  day  of  hearing  so  fixed. 

1916 

Issue  and  expiration  of  license. 

Section  1916.  The  commissioner  of  insurance  shall,  upon 
beinp:  satisfied  that  any  such  insurance  corporation  has  fully 
complied  with  the  requirements  of  the  preceding  section  and 
all  other  provisions  of  law  applicable  thereto,  deliver  to  such 
corporation  a  license  to  transact  business  in  this  state  as  pre- 
scribed in  these  statutes,  and  shall  renew  the  same  from  year 
to  year  so  long  as  such  corporation  shall  desire  to  do  business 
in  this  state  and  its  capital,  securities  and  investments  remain 
secure,  and  shall  give  to  every  agent  of  such  corporation  a 
certificate  that  such  corporation  has  complied  with  all  the  pro- 
visions of  law  and  is  authorized  to  transact  business  in  this 
state,  which  shall  continue  in  force  unless  sooner  revoked,  in 
case  of  fire,  marine  or  inland  navigation  or  transportation  and 
mutual  hail  corporations,  until  the  thirty-first  day  of  January 
next  after  the  date  thereof,  and  in  case  of  life  or  accident  cor- 
porations until  the  first  dav  of  March  next  after  the  date 
thereof,  and  shall  be  annually  renewed. 

1917  "^ 

Payment  of  fee ;  cause  for  revocation  of  license. 

Section  1917.  No  fire  or  fire  and  inland  navigation  insur- 
ance corporation  shall  transact  any  insurance  business  in  this 
state  without  first  having  paid  the  license  fees  prescribed 
therefor  by  section  1219  and  obtained  a  license  therefor  as 
provided  in  the  preceding  section,  and  if  any  such  corporation 
shall  remove  or  make  application  to  remove  into  any  court  of 
the  United  States  any  action  or  proceeding  commenced  in  any 
court  of  this  state  upon  a  claim  or  cause  of  action  arising  out 
of  any  business  or  transaction  done  in  this  state,  or  if  it  shall 
violate  or  fail  to  comply  with  any  provision  of  law  applicable 
thereto,  or  in  case  its  capital  shall  be  impaired  to  the  extent  of 
twenty  per  cent,  and  shall  not  be  made  good  within  such  time 
as  the  commissioner  of  insurance  shall  require,  according  to 
section  1968,  it  shall  be  the  imperative  duty  of  the  commis- 
sioner to  revoke  any  and  every  authority,  license  or  certificate 
granted  to  such  corporation  or  any  agent  thereof  to  transact 
any  business  in  this  state,  and  no  such  corporation  or  agent 
thereof  shall  thereafter  transact  any  business  of  insurance  in 
this  state  till  again  duly  licensed ;  in  case  such  revocation  shall 
be  made  because  of  the  removal  of  any  action  to  any  court  of 


43  LICENSE,  ISSUE,  REVOCATION.  1917 

the  United  States  no  renewal,  license  or  certificate  of  author- 
ity shall  be  granted  to  such  corporation  for  three  years  after 
such  revocation.  Whenever  such  license  shall  be  revoked  the 
commissioner  shall  give  notice  of  such  revocation  by  mail  to 
every  agent  of  such  corporation  who  shall  have  obtained  any 
certificate  of  authority  therefor  and  shall  also  publish  notice 
thereof  in  the  official  state  paper. 

1918 

Withdrawal  of  securities. 

Section  1918.  Whenever  any  such  foreign  corporation  shall 
elect  to  discontinue  business  in  this  state  and  shall  have  risks 
unexpired  on  property  insured  therein  it  shall,  before  with- 
drawing its  bonds  or  other  securites  deposited  with  the  treas- 
urer, re-insure  in  some  good  and  solvent  corporation  author- 
ized to  transact  business  in  this  state  all  such  unexpired  risks 
to  the  satisfaction  of  the  insured  and  the  commissioner  of 
insurance,  and  when  so  re-insured  the  said  commissioner  shall 
certify  the  fact  to  the  treasurer,  who  shall  thereupon,  and  not 
otherwise,  surrender  and  deliver  its  bonds  and  other  securities 
in  his  custody. 

1919 

Service  of  process. 

Section  1919.  If  the  license  of  any  such  corporation  not 
organized  under  any  other  law  of  this  state,  shall  be  revoked 
or  it  shall  cease  to  transact  business  in  this  state  the  attorney 
last  appointed  and  the  agents  last  designated  as  acting  as  such 
for  it  shall  continue  attorney  and  agents  for  the  purpose  of 
serving  process  for  commencing  actions  upon  any  policy  or  lia- 
bility incurred  or  contracted  in  this  state  while  it  transacted 
business  therein  so  long  avS  any  such  liability  shall  exist. 

1919a  (Ch.  436,  1911,  in  effect  June  26,  1911.) 
Agents  to  be  residents,  exceptions,  penalty. 

Section  1919a.  1.  No  policy  of  insurance  shall  he  issued  or 
delivered  in  this  state  by  any  company,  except  through  an  agent 
who  shall  he  a  resident  of  this  state  and  hold  a  certificate  of 
authority  Hinder  section  1976,  for  the  kind  of  ins^irance  effected 
hy  such  policy. 

2.  In  case  of  fire  insurance,  the  agent  shall  countersign  and 
enter  the  policy  in  a  permanent  record  to  he  kept  hy  him  for  that 
purpose.     Such  agent  shall  he  paid  the  commission  on  the  policy. 

3.  The  hooks  of  every  person  transacting  or  purporting  to 
transact  the  business  of  an  insurance  agent  shall  at  all  times  he 
open  to  the  inspection  of  the  commissioner  of  insurance,  his  dep- 


1919a  RESIDENT  AGENTS.  44 

uty  or  examiners,  and  a  refusal  to  permit  such  inspection  sJiall  he 
prima  facie  evidence  of  a  violation  of  this  section. 

4.  This  section  shall  not  prevent  any  insurance  placed  in  vio- 
lation thereof  taking  effect. 

5.  Any  company  or  person  soliciting  or  placing  insurance  with- 
out complying  with,  this  section  shall,  in  addition  to  other  pen- 
alties pi^ovided  hy  law,  he  liahle  personally  u.pon  such  policy  or 
contract  of  insurance  to  the  same  extent  as  the  company  issuing 
the  same. 

6.  This  section  shall  not  apply  to: 

{a)  Policies  issued  directly  from  the  home  office  of  any  com- 
pany organized  under  the  laws  of  this  state. 

(h)  Policies  covering  property  in  transit  lohile  in  the  posses- 
sion or  custody  of  any  common  carrier,  or  the  rolling  stock  or 
other  property  of  any  common  carrier  used  and  employed  hy  it 
as  a  comman  carrier  of  freight  or  passengers. 

(c)  Policies  issued  directly,  hy  any  mutual  company  or  any 
association  doing  husiness  on  the  inter-insurance  or  reciprocal 
plan,  on  which  no  commissioyis  are  paid,  except  to  a  home  office 
manager  or  an  attorney  in  fact  for  such  company  or  association, 
as  specifically  authorized  hy  the  insured. 

7.  Any  company  or  agent  violating  this  section  shall  he  suh- 
ject  to  the  penalty  provided  hy  suhsection  5^  of  section  1955o. 

Section  1919a  is  referred  to  in  section  1919m. 

1919b  (Sec.  2,  ch.  190,  1899.) 
Re-insurance,  how  effected. 

Section  1919b.  No  fire  insurance  company  or  association 
shall  re-insure  in  any  manner  whatsoever,  the  whole  or  any 
part  of  a  risk  taken  by  it  on  property  situated  or  located  in 
this  state  in  any  other  company  or  association  not  authorized 
to  transact  business  in  this  state.  No  fire  insurance  company 
or  association  shall  transfer  or  cede,  in  any  manner  whatso- 
ever, to  any  company  or  association  not  authorized  to  do  busi- 
ness in  this  state,  any  risk  or  liability  or  any  part  thereof  as- 
sumed by  it,  under  any  form  of  contract  of  insurance,  cover- 
ing property  located  in  this  state,  including  any  risk  or  liabil- 
ity under  any  g-eneral  or  floating  policy,  or  any  agreement 
general,  floating  or  specific,  to  re-insure  excess  loss  by  one  or 
more  fires.  No  fire  insurance  company  or  association  shall  re- 
insure, or  assume  as  a  re-insuring  company,  or  otherwise,  in 
any  manner  or  form  whatsoever,  the  whole  or  any  part  of  any 
risk  or  liability,  covering  property  located  in  this  state,  of  any 
insurance  company  or  association  not  authorized  to  transact 
business  in  this  state. 

Section  1919b  is  referred  to  in  1919g.  Compare  sections  1905,  1905a 
and  1919d. 


45  HE-lNStJRAlsrCfi.  l919c 

1919c  (Sec.  3,  ch.  190,  1899;  eh.  663,  1911,  in  effect  July  21, 
1911.) 
Commissioner's  authority;  evidence  of  violation  of  law. 

Section  1919c.  Whenever  the  commissioner  of  insurance 
shall  have  or  receive  information  that  any  fire  insurance  com- 
pany or  association,  not  incorporated  under  the  laws  of  this 
state,  has  violated  any  of  the  provisions  of  section  one  of  this 
act,  he  is  authorized,  at  the  expense  of  such  company  or  associa- 
tion, to  examine,  by  himself  or  his  accredited  representative, 
at  the  principal  office  or  offices  of  such  company  or  association, 
located  in  the  United  States  of  America,  or  in  any  foreigfn 
country,  and  also  at  such  other  offices  or  agencies  of  such  com- 
pany or  association  as  he  may  deem  proper,  all  books,  records 
and  papers  of  such  company  or  association  and  may  examine 
under  oath  the  officers,  managers  and  agents  of  such  company 
or  association  as  to  such  violation  or  violations.  The  refusal 
of  any  such  company  or  association  to  submit  to  such  exami- 
nation or  to  exhibit  its  books  and  records  for  inspection  shall 
be  presumptive  evidence  that  it  has  violated  the  provisions  of 
*  ^  ^  section  1919a  and  shall  be  subject  to  the  penalties 
prescribed  and  imposed  i^y  *  *  «=  sections  1919a  to  1919g 
■inclusive. 

Section  1919c  is  referred  to  in  sec.  1919g. 

1919d  (Sec.  4,  ch.  190,  1899;  ch.  663,  1911,  in  effect  July  21, 
1911.) 
Report  concerning  re-insuralice ;  effect  of  not  making  re- 
port. 
Section  1919d.  Every  fire  insurance  company  or  association 
shall  annually  and  at  such  other  times  as  the  commissioner  of 
insurance  may  require,  in  addition  to  all  returns  now  by  law 
required  of  it  or  its  agents  or  managers,  make  a  return  to  the 
commissioner  of  insurance  in  such  form  and  detail  as  may  be 
prescribed  by  him,  of  all  re-insurance  or  cessions  of  risk  or  lia- 
bility contracted  for  or  effected  by  it,  whether  by  issue  of 
policy,  entry  or  bordereau,  general  participation  agreement  or 
by  excess  less  re-insurance,  or  in  any  other  manner  whatsoever, 
upon  property  located  in  this  state,  or  covering',  whether 
specified  or  otherwise,  any  risk  or  liability  upon  property  so 
located,  such  return  to  be  certified  by  the  oath  of  its  presi- 
dent and  secretary,  if  a  company  or  association  of  one  of  the 
United  States,  and,  if  a  company  or  association  of  a  foreign 
country,  by  the  oath  of  its  managers  in  the  United  States  as 
to  such  re-insurance  or  cessions  effected  through  its  branch  of- 
fice in  the  United  States,  and  by  oath  of  its  president  and  sec- 


1919d  RE-INSURANCE.  46 

retary,  or  by  officers  corresponding  thereto,  at  its  home  office 
wherever  located,  as  to  re-insurance  as  aforesaid  contracted  for 
or  effected  through  the  foreign  office.  The  refusal  of  any  such 
company  or  association  to  make  the  returns  herein  required 
shall  be  presumptive  evidence  that  it  is  guilty  of  violating  the 
provisions  of  *  *  *  section  1919h,  and  shall  subject  it  to 
the  penalties  prescribed  and  imposed  by  *  *  *  sections 
1919a  to  1919g  inclusive. 

Section  1919d  is  referred  to  in  sec.  1919g.  Compare  sections  1905, 
1905a,  1919c,  and  1919g. 

1919e  (Sec.  5,  ch.  190,  1899;  ch.  663,  1911,  in  effect  July  21, 
1911.) 
Penalty  for  violating  law;  non-payment  of  judgment. 

Section  1919e.  Any  insurance  company  or  association  wil- 
fully violating  or  failing  to  observe  and  comply  with  any -of 
the  provisions  of  this  act,  applicable  thereto,  shall  be  subject  to 
and  liable  to  pay  a  penalty  of  five  hundred  dollars  for  each 
violation  thereof  and  for  each  failure  to  observe  and  comply 
with  any  of  the  provisions  of  this  act;  such  penalty  may  be 
collected  and  recovered  in  an  action  brought  in  the  name  of 
the  state  in  any  court  having  jurisdiction  thereof.  Any  in- 
surance company  or  association  which  shall  neglect  and  refuse 
for  thirty  days  after  judgment  in  any  such  action  to  pay  and 
discharge  the  amount  of  such  judgment  shall  have  its  authority 
to  transact  business  herein  until  it  shall  have  paid  the 
of  insurance  and  such  revocation  shall  continue  for  at  least  one 
year  from  the  date  thereof,  nor  shall  any  insurance  company 
or  association  whose  authority  to  transact  business  in  this  state 
shall  have  been  so  revoked,  be  again  authorized  op  permitted 
to  transact  business  herein  until  it  shall  have  been  paid  the 
amount  of  any  such  judgment  and  shall  have  filed  in  the  office 
of  the  commissioner  of  insurance  a  certificate  signed  by  its 
president  or  other  chief  officer  to  the  effect  that  the  terms  and 
obligations  of  the  provisions  of  *  *  *  sections  1919a  to 
1919g  inclusive,  are  accepted  by  it  as  a  part  of  the  conditions 
of  its  right  and  authority  to  transact  business  in  this  state. 

Section  1919e  is  referred  to  in  sections  1919c,  1919d,  1919g. 

Conflicting  laws  repealed.     (Sec.  7,  ch.  190,  1899;  ch.  663, 
1911,  in  effect  July  21,  1911.) 
All  acts  and  parts  of  act,  whether  general  or  special,  incon- 
sistent with  the  provisions  of  sections  1919a  to  1919g  inclusive, 
are  hereby  repealed. 


47  UNAUTHORIZED  INSURANCE.  19l9f 

1919f  (Sec.  6,  ch.  190,  1899.) 
Unauthorized  risks;  penalty. 
Section  19191  Any  company  or  person  who  shall  solicit  or 
place  insurance  in  a  lire  insurance  company  not  authorized  to 
do  business  in  this  state,  shall,  in  the  event  of  the  failure  of 
such  unauthorized  company  to  pay  any  claim  or  loss  within 
the  policy  issued,  be  liable  to  the  insured  for  the  amount  thereof 
to  tiie  extent  that  such  company  would  have  been  liable;  and 
such  company  or  agent  shall,  on  satisfactory  proof  of  violation 
of  either  of  the  foregoing  provisions  made  to  the  commissioner 
of  insurance,  have  its  or  his  authority  to  transact  business  iijL 
this  state  revoked  for  a  period  of  not  less  than  ninety  days, 
and  shall  not  again  be  permitted  to  do  business  herein  until  all 
liability  for  such  violation  shall  be  discharged  and  the  provi- 
sions of  these  statutes  concerning  the  admission  of  foreign  fire 
insurance  companies  to  do  business  in  this  state  be  complied 
with.  Whenever  said  commissioner  shall  receive  notice  of  the 
violation  of  any  provision  of  this  section  he  shall  forthwith  in 
person  or  by  his  deputy,  visit  the  office  of  the  company  or  any 
insurance  agent  charged  with  such  violation,  and  demand  an 
inspection  of  the  books  and  records  thereof;  and  any  company 
or  such  agent  refusing  to  permit  such  inspection  shall  be  deemed 
guilty  of  violating  this  section,  and  such  commissioner  shall 
enforce  the  penalties  herein  provided  against  the  same. 

1919g  (Sec.  1,  ch.  344,  1899;  ch.  663,  1911,  in  effect  July  21, 
1911.) 
Construction  of  foregoing  provisions  concerning  re^insur- 
ance. 

Section  1919g.  Nothing  contained  in  *  *  *  sections 
1919a  to  1919f,  inclusive,  shall  be  construed  as  preventing  any 
insurance  company  which  has  lawfully  issued  a  policy  of  insur- 
ance upon  property  within  this  state,  from  re-insuring  said  risk 
or  any  portion  thereof,  in  any  authorized  company  without 
having  said  policy  of  re-insurance  signed  by  a  local  agent  iu 
this  state. 

1919m  (Ch.  87,  1911,  in  effect  May  6,  1911.) 

Surplus  lines;  unauthorized  companies;  agents;  bond;  re- 
port; penalty. 
Section  1919m.  1.  The  commissioner  of  insurance,  in  con- 
sideration of  the  yearly  payment  of  fifteen  dollars,  and  in  cities 
having  more  than  one  hundred  thousand  inhabitants,  of  fifty 
dollars,  may  issue  to  any  agent  holding  a  certificate  of  authority 
under  section  1976  a  license  terminating  on  the  31st  day  of  Jan- 


191dm  UNAUTHORIZED  INSURANCE.  48 

uary  next  succeeding,  revokable  at  any  time,  permitting  such 
agent  to  act  as  agent  in  procuring  policies  of  fire  insurance 
from  any  corporations,  associations,  partnerships,  or  persons, 
herein  called  companies,  which  are  not  authorized  to  do  busi- 
ness in  this  state. 

2.  Before  any  insurance  shall  be  procured  under  said  license, 
there  shall  be  executed  by  the  agent  an  affidavit  which  shall  be 
filed  with  the  commissioner  within  thirty  days  after  the  date 
of  the  policy.  Such  affidavit  shall  entitle  the  agent  making  it 
to  effect  unauthorized  insurance  for  one  year  succeeding  the 
date  thereof.  Such  affidavit  shall  set  forth  that  the  agent  is, 
after  diligent  effort,  unable  to  procure  the  amount  of  insurance 
required  to  protect  the  property  described  in  said  affidavit, 
from  the  companies  authorized  and  licensed  to  transact  busi- 
ness in  this  state. 

3.  The  insured  may  in  writing  relieve  the  agent  from  the  per- 
sonal liability  imposed  by  section  1919a,  which  release  shall 
aflPect  all  insurance  written  within  one '  year  after  the  date 
thereof. 

4.  The  agent  procuring  policies  in  any  unauthorized  com- 
pany shall  keep  a  separate  account  thereof,  open  at  all  times 
to  the  inspection  of  the  commissioner,  showing : 

a.  The  amount  of  such  insurance ; 

b.  The  gross  premiums  charged  thereon ; 

c.  The  return  premiums  on  cancellations; 

d.  In  what  company  the  insurance  is  placed ; 

e.  Date  of  the  policy ; 

f.  The  term  thereof; 

g.  A  copy  of  the  form  of  policy ;  and 

h.  Separately,  the  cities,  towns,  and  villages  in  which  the 
insured  property  is  located. 

5.  Such  agent  shall  annually,  before  the  first  day  of  P^ebruary 
in  each  year,  make  a  report  to  the  commissioner  for  the  pre- 
ceding calendar  year  on  such  form  as  prescribed  by  him,  of  the 
facts  required  by  subsection  4,  and  pay  to  the  state  through 
the  commissioner  the  tax  in  the  manner  and  at  the  time  pro- 
vided by  section  1219. 

6.  Each  agent  receiving  such  license  shall,  before  transacting 
])usiness  thereunder,  execute  and  deliver  to  the  commissioner  a 
bond  to  the  people  of  the  state  in  the  penal  sum  of  one  thousand 
dollars,  with  such  sureties  as  the  commissioner  shall  approve, 
conditioned  that  the  said  agent  will  faithfully  comply  with  all 
the  requirements  of  this  section. 

7.  In  default  of  the  payment  to  said  commissioner  of  the  tax 


49  REPORTS.  Idl9m 

herein  provided  for,  he  may  sue  for  the  same  in  any  court  of 
record  of  this  state. 

8.  Any  violation   of  this   act   shall  subject  the   agent   to   a 
revocation  of  his  license. 


REPORTS. 

1920  (1898,  ch.  181,  1905.) 

When  to  be  made ;  contents. 

Section  1920.  The  president  or  vice-president  and  secre- 
tary of  each  fire,  inland  navigation  or  transportation  insurance 
corporation,  except  mutual  fire  insurance  corporations  organ- 
ized under  the  laws  of  this  state  and  licensed  to  do  business 
therein,  shall  annually  within  the  month  of  January,  prepare 
and  deposit  in  the  office  of  the  commissioner  of  insurance  a 
statement,  verified  by  their  oaths,  of  the  business  of  the  cor- 
poration during  the  year  and  the  condition  thereof  on  the 
thirty  first  day  of  December  then  next  preceding,  exhibiting 
the  following  items : 

First.     The  amount  of  the  capital  stock  of  the  corporation. 

Second.  The  property  or  assets  of  the  corporation,  speci- 
fying : 

1.  The  value  as  near  as  may  be,  of  the  real  estate  held  by 
such  corporation. 

2.  The  amount  of  cash  on  hand  in  such  corporation's  office 
and  also  the  amount  deposited  in  bank  to  the  credit  of  such 
corporation,  and  specifying  in  what  bank  or  banks  the  same 
is  deposited. 

3.  The  amount  of  loans  secured  by  bonds  or  mortgages,  con- 
stituting the  first  lien  on  real  estate  on  which  there  shall  be 
less  than  one  year's  interest  due  or  owing. 

4.  The  amount  of  loans  on  which  interest  shall  not  have 
been  paid  within  one  year  previous  to  such  statement. 

5.  The  amount  due  the  corporation  on  which  judgments 
have  been  obtained. 

6  The  amount  of  stocks  of  this  state  of  the  United  States 
of  any  incorporated  city  of  this  state  and  of  any  other  stocks 
owned  by  the  corporation,  spocifyiTig  the  amount,  number  of 
shares  and  the  par  and  market  value  of  each  kind  of  stock  so 
held. 

7.  The  amount  of  stocks  held  tliereby  as  collateral  security 
for  loans  with  the   amount  loaned  on  each  kind  of  stock,  its 
par  value  and  market  value. 
4—1.  L. 


1920  REPORTS.  50 

6.  The  amount  of  the  assessments  on  stocks  or  premium 
notes,  paici  and  unpaid. 

y.  Tne  amount  of  interest  actually  due  and  unpaid. 

10.  The  amount  of  premium  notes  on  hand  on  which  policies 
are  in  force. 

11.  I'he  amount  and  the  manner  of  the  investment  of  its 
guaranty  surplus  fund,  if  any. 

12.  I'ne  amount  and  manner  of  the  investment  of  the  speciai 
reserve  fund,  if  any. 

Third.     Tne  liabilities  of  such  corporation,  specifying: 

1.  The  amount  of  losses  due  and  unpaid. 

2.  The  amount  of  claims  for  losses  resisted  by  the  corpora- 

'6.  The  amount  of  losses  incurred  during  the  year,  including 
those  claimed  and  not  yet  due  and  those  reported  to  the  cor- 
poration upon  which  no  action  has  been  taken. 

4.  The  amount  of  dividends  declared  due  and  unpaid. 

5.  The  amount  of  dividends,  either  cash  or  script,  declared 
not  yet  due. 

t).  The  amount  of  money  borrowed  and  security  given  for 
the  payment  thereof. 

7.  The  amount  required  to  re-insure  all  outstanding  risks. 

8.  The  amount  of  all  other  existing  claims  against  the  cor- 
poration. 

Fourth.  The  income  of  the  corporation  during  the  preced- 
ing year,  specifying : 

1.  The  amount  of  interest  money  received. 

2.  The  amount  of  cash  premiums  received. 

3.  The  amount  of  notes  received  for  premiums. 

4.  The  amount  of  income  received  from  other  sources. 

5.  The  amount  received  in  cash  premiums  for  insuring  prop- 
erty in  this,  state. 

b.  The  amount  received  in  premium  notes,  in  cash  notes,  and 
the  amount  received  from  other  sources  in  this  state. 

Fifth.  The  expenditures  during  the  preceding  year,  speci- 
fying : 

1.  The  amount  of  losses  paid  during  the  year,  stating  how 
much  accrued  prior  and  how  much  subsequent  to  the  date  of 
the  preceding  statement. 

2.  The  amounts  of  dividends  paid  during  the  year. 

3.  The  amount  of  expenses  during  the  year,  stating  the* 
amount  paid  officers,  salaries  and  fees ;  the  amount  paid  agents 
commissions  and  fees,  and  the  amount  paid  for  office  expenses 
and  rent;  the  amount  pair  for  taxes,  and  the  amount  of  all 
other  payments  and  expenditures. 


51  REPORTS.  l.ij   '^'  1920 


4.  The  amount  paid  in  this  state  for  salaries,  commissions  to 
agents  and  for  losses. 

Sixth.  Any  other  items  or  facts  which  the  commissioner  of 
insurance  may  require. 

The  statement  of  every  such  corporation  whose  capital  is 
composed  in  whole  or  in  part  of  notes  shall  show  the  amount 
of  notes  originally  forming  such  capital  and  what  portion  of 
them  is  still  held  by  such  corporation  and  considered  capital. 

The  statement  of  any  such  foreign  corporation  shall  set  forth 
its  business  and  affairs  in  the  United  States,  duly  verified  by 
its  resident  manager  in  the  United  States.  For  any  failure  to 
make  and  deposit  such  annual  statement  or  to  promptly  reply 
in  writing  to  any  inquiry  addressed  by  the  commissioner  of 
insurance  in  relation  to  the  business  of  any  such  corporation 
or  for  wilfully  making  any  false  statement  therein,  every  cor- 
poration or  officer  so  failing  or  making  such  false  statement 
shall  pay  to  the  state  a  fine  of  five  hundred  dollars,  and  for 
neglecting  to  file  such  annual  statement  an  additional  five  hun- 
dred dollars  for  every  month  that  such  corporation  shall  con- 
tinue thereafter  to  transact  any  insurance  business  in  this  state 
until  such  statement  be  filed. 

Section  1920  is  referred  to  in  section  1915  (5). 

1921 

Receivers  and  trustees  to  make  report. 

Section  1921.  All  receivers  and  trustees  of  any  such  insur- 
ance corporation  shall,  in  the  month  of  January  in  each  year 
and  at  any  other  time  when  requested  by  the  commissioner  of 
insurance  make  and  file  annual  and  other  statements  of  their 
assets  and  liabilities  and  of  their  income  and  expenditures  in  the 
same  manner  and  form  as  the  officers  of  such  corporations  are 
required  by  law  to  do  and  under  the  same  penalties  for  failure 
or  lieglect  so  to  do. 


BOARDS  OF  FIRE  UNDERWRITERS  AND  FIRE  PATROL. 

1922 

Incorporation. 

Section  1922.  Any  three  or  more  agents  or  underwriters 
lawfully  doing  the  business  of  fire  insurance  in  any  city  of  this 
state,  may  be  incorporated  as  a  board  of  underwriters  in  such 
city  under  the  provisions  of  chapter  86  for  the  usual  purposes 
tor  which  such  boards  are  established. 


l&^S  PlUE  PATkOL,  EXPENSE.  ^^ 

1923 

Fire  patrol;  duties. 

Section  1928.  Any  incorporated  board  of  fire  underwriters 
may  establish  a  fire  patrol  in  any  city  wherein  it  is  located 
and  for  that  purpose  may  appoint  and  remove  at  pleasure  a 
superintendent  and  such  number  of  patrols  as  they  shall  deem 
proper  and  provide  suitable  accommodations  and  apparatus  for 
such  patrol,  and  from  time  to  time  make  all  needful  rules  and 
reflations  for  the  government  and  direction  thereof ;  the  duty 
of  such  patrol  shall  be  to  discover  and  prevent  fires  and  to 
save  and  preserve  life  and  property  at  and  after  fires  and  for 
that  purpose  full  power  is  given  to  such  superintendent  and 
patrol  to  enter  any  building  on  fire  or  which  may  be  exposed 
to  or  be  in  danger  of  taking  fire  from  other  burning  buildings 
subject  to  the  control  of  the  chief  of  the  fire  department  of 
the  city,  and  to  remove  such  property  or  any  part  thereof  at 
or  immediateh^  after  a  fire  and  to  guard  and  protect  the  same. 

.1924  (1898,  sec.  1,  ch.  144,  1901.) 
Meeting  of  underwriters. 
Section  1924.  For  the  purpose  of  establishing  and  defray 
ing  the  necessary  expenses  of  such  fire  patrol  there  shall  be  a 
meeting  of  the  said  board  of  fire  underwriters  in  the  month 
of  January  in  each  year;  prior  notice  of  such  meeting,  speci- 
fying the  time  and  place  at  which  it  will  be  held,  shall  be  in- 
serted for  at  least  ten  days  in  one  daily  newspaper  published 
in  the  city  where  such  board  is  located;  at  such  meeting  each 
insurance  corporation,  agent  or  person  doing  a  fire  insurance 
business  in  such  city  shall  have  the  right  to  be  present  and 
each  corporation  represented  shall  be  entitled  to  one  vote. 
Such  meeting  may  determine  whether  such  fire  patrol  shall  be 
established,  or  continued  if  established,  and  fix  the  maximum 
amount  of  expenses  which  shall  be  incurred  therefor  during 
the  ensuing  year;  but  such  maximum  amount  shall  not  in  any 
one  year  exceed  two  per  cent  of  the  aggregate  amount  of 
premiums  for  fire  insurance  received  in  such  city  during  such 
year. 

1925  (1898;  sec.  2,  ch.  144,  1901.) 
Expenses  of  patrol. 
Section  1925.  On  the  first  day  of  February  in  each  year 
each  insurance  corporation,  underwriter  or  agent  doing  any 
fire  insurance  business  in  such  city  shall  furnish  to  said  board 
a  statement,  verified  by  affidavit,  of  the  aggregate  amount  of 
premiums  received  for  insuring  property  in  such  city  during 


53  FIRE   DEPARTMENT   TAX.  1925 

the  year  ending  on  the  next  preceding  first  day  of  January. 
I'pon  the  statement  so  furnished  said  board  shall  assess  the 
amount  fixed  as  aforesaid  for  the  expenses  of  said  fire  patrol 
for  the  current  year  upon  the  several  corporations,  underwrit- 
ers or  agents,  in  proportion  to  the  amount  of  the  premiums 
returned  as  received  by  each,  and  such  assessments  may  be 
recovered  by  action  in  the  name  of  such  board.  If  any  such 
statements  shall  not  be  made  as  above  required,  said  board 
shall  cause  a  demand  in  writing  to  be  served  on  the  corpora- 
tion, underwriter  or  agent  so  failing  to  make  such  sworn  state- 
ment. Such  demand  shall  be  served  by  leaving  the  same  dur- 
ing business  hours  at  its  or  his  oftice  with  the  person  in 
charge  thereof,  and  every  such  corporation,  underwriter  or 
agent  who  shall  wilfully  make  false  statement  or  who  shall, 
for  fifteen  days  after  such  demand  neglect  to  render  ^uch 
statement  shall  forfeit  fifty  dollars  and  an  additional  fifty 
dollars  for  eacli  day's  neglect  after  the  expiration  of  said  fif- 
teen days,  one-half  to  the  use  of  said  board,  when  it  shall 
prosecute  therefoi'. 


DUTIES  TO  BE  PAID. 

1926  (1898.  ch.  32,  1899.) 

For  fire  depaxtments ;  liability  of  insured;  action  to  re- 
cover. 

Section  1926.  There  shall  be  paid  on  the  first  day  of  Feb- 
ruary in  each  year  to  the  treasurer  of  any  city  or  village,  or 
town  containing  an  unincorporated  village,  having  or  main- 
taining a  regularly  organized  fire  department,  as  hereinafter 
provided,  for  the  support  and  maintenance  of  such  fire  depart- 
ment, by  every  underwriter  who  shall  effect  any  fire  insurance 
and  by  every  person  who  shall  act  as  agent  for  any  fire  insur- 
ance corporation  or  underwriter  in  such  city,  village  or  town 
a  duty  of  two  per  centum  upon  the  amount  of  all  premiums 
which,  during  the  year  or  part  of  a  year  ending  on  the  next 
preceding  first  day  of  January,  shall  have  been  received  by 
such  underwriter  or  agent  or  by  any  other  person  for  him. 
or  shall  have  been  agreed  to  be  paid  for  any  insurance  effected 
or  agreed  to  be  effected  or  promised  by  him  as  such  agent  or 
otherwise,  against  loss  or  injury  by  fire  in  any  such  city  or 
village,  or  town-  containing  an  unincorporated  village.  And 
no  person  shall,  in  any  such  city,  village  or  town,  as  under- 
writer, agent  or  otherwise,  effect  or  agree  to  effect,  or  procure 
to  be  effected  any  insurance  upon  which  the  above  duty  is  re- 


1926  FIRE   DEPARTMENT  TAX.  54 

quired  to  be  paid  until  he  shall  have  executed  and  delivered 
to  such  treasurer  a  bond  in  the  sum  of  one  thousand  dollars 
with  such  sureties  as  such  treasurer  shall  approve,  conditioned 
that  he  will  render  to  such  treasurer  on  thvS  first  day  of  each 
February  a  just  and  true  account,  verified  by  his  affidavit,  of 
all  premiums  which,  during  the  year  ending  on  the  first  day 
of  January  preceding  such  report,  shall  have  been  received  by 
him  or  any  other  person  for  him,  or  agreed  to  be  paid  for  any 
insurance  against  loss  or  injury  by  fire  in  any  such  city,  vil- 
lage or  town  which  shall  have  been  effected  or  agreed  to  be 
effected  by  him,  and  that  he  will  on  the  first  day  of  each  Feb- 
ruary, pay  to  the  said  treasurer  two  per  centum  upon  the  full 
amount  of  such  premiums.  Every  person  who  shall  effect  or 
agree  to  effect  any  fire  insurance  in  any  such  city,  village  or 
towT\  without  having  executed  and  delivered  such  bond  or  who 
shall  wilfully  omit  to  pay  such  duty  shall,  for  each  offense,  for- 
feit one  hundred  dollars,  which  shall  be  paid  into  the  treasury 
for  the  support  and  maintenance  of  such  fire  department.  In 
case  the  fire  department  of  such  city,  village  or  town  be  a 
voluntary  department,  or  part  paid,  or  either,  having  a  treas- 
urer or  treasurers,  all  moneys  received  or  collected  by  virtue 
of  this  section  shall  be  paid  to  the  treasurer  of  such  depart- 
ment for  the  support  and  maintenance  thereof  exclusively. 
No  city,  village  or  town  shall  be  entitled  to  such  duty  unless 
it  shall  have,  support  or  maintain  a  fire  department  consisting, 
in  case  of  a  voluntary  department,  of  at  least  one  fire  engine 
company  with  not  less  than  ten  active  members,  having  at 
least  one  good  fire  engine  and  not  less  than  five  hundred  feet 
of  sound  rubber,  leather  or  other  hose  kept  in  an  engine  house 
fit  and  ready  at  all  times  for  actual  service,  and  at  least  one 
hook  and  ladder  company,  with  not  less  thsn  twelve  active 
members,  having  a  s^ood  hook  and  ladder  truck,  and  each  sucli 
company  shall  hold  a  meeting  at  least  once  a  month,  and  in 
case  of  a  paid  or  partly  paid  fire  department,  the  buildings, 
machinery  and  materials  hereinbefore  enumerated  and  the 
necessary  men,  teams  and  equipment  to  constitute  an  active 
and  pronerly  equipped  department,  ready  for  service  at  all 
times.  But  in  case  any  city,  village  or  town  shall  have  and 
maintain  a  system  of  waterworks  with  sufficient  pressure  for 
fire  purposes,  with  one  or  more  hose  conipanies  of  not  less  than 
ten  active  members,  each  having  not  less  than  five  hundred 
feet  of  sound  rubber,  leather  or  other  hose,  with  one  or  more 
hose  carts  kept  fit  and  ready  at  all  times  for  actual  service 
such  city,  village  or  town  shall  not  be  required  to  maintain  a 
fire  engine  and  the  fire  department  shall  be  entitleci  to  receive 


55  FIRE   DEPARTMENT  TAX.  1926 

the  two  per  centum  named  in  this  section.  If  any  such  under- 
writer or  a^ent  shall  fail  to  file  the  bond  or  make  the  report 
or  payment  herein  provided  for  the  commissioner  of  insurance 
shall,  upon  satisfactory  proof  thereof,  notify  the  company  rep- 
resented bv  such  underwriter  or  a^ent  that  he  is  in  default 
and  that  if  such  default  for  continues  for  thirty  days  after  the 
date  of  such  notice  he  will  revoke  the  license  of  such  company 
and  all  of  its  agents  to  do  business  in  this  state  for  the  unex- 
.  pired  portion  of  the  year,  and  at  the  expiration  of  such  time 
he  shall  revoke  all  of  such  licenses  and  shall  not  renew  them 
or  any  of  them  so  long  as  such  default  continues.  The  owne? 
or  any  projperty  situated  in  any  city,  village  or  town  within 
this  section  who  shall  insure  the  same  in  any  company  not 
authorized  to  do  business  in  this  state,  or  in  any  company  au- 
thorized to  do  business  in  this  state  but  through  agents  or 
persons  not  residing  in  such  city,  village  or  town,  and  who 
has  not  complied  with  the  provisions  of  this  section  in  regard 
to  filing  bond  shall  be  liable  to  the  city,  village  or  town  in 
which  such  property  is  situated  for  the  percentage  of  pre- 
miums on  the  insurance  on  such  property,  and  such  percent- 
age may  be  recovered  in  a  civil  action  brought  in  the  name  of 
the  city,  village  or  town  the  fire  department  of  which  is  en- 
titled thereto;  and  all  actions  to  recover  such  percenlage  mav 
be  so  brought. 

Section  1926  is  referred  to  in  section  1926m. 

1926m  (Ch.  578,  1911,  in  effect  July  7,  1911.) 

Fire  department  dues,  lists  towns  entitled  to,  payment 
through  commissioner  and  state  treasurer. 
Section  1926m.  1.  The  state  fire  marshal  shall  annually,  on 
or  before  the  first  day  of  October,  file  with  the  commissioner 
of  insurance  a  statement  containing  the  name  of  every  city, 
village  or  town  entitled  to  fire  department  dues  under  section 
1926.^ 

2.  The  commissioner  of  insurance  shall  annually,  on  or  be- 
fore the  first  day  of  November  in  each  year,  forward  to  every 
company  or  insurer  transacting  the  business  of  lii'e  insurance 
within  this  state,  a  list  of  all  cities,  villages  and  towns  entitleiC 
to  tire  department  dues  under  section  1926. 

3.  Every  company  or  insurer  effecting  any  insurance  against 
loss  or  injury  by  fire  in  any  city,  village  or  to\^n  in  this  state, 
entitled  to  any  fire  department  dues  under  section  1926,  shall, 
on  or  before  the  first  day  of  February  in  each  year,  file  with 
the  commissioner  of  insurance  a  statement,  showing  the  amount 
of  premiums  upon  which  any  such  fire  department  dues  shall 
be  payable  to  any  such  city,  village  or  town,  and  pay  to  th^ 


1926m  FIRE  DEPARTMENT  TAX.  56 

state,  throng:li  the  commissioner,  the  total  amount  of  such  fire 
department  dues  payable  to  all  the  cities,  villages  or  towns  in 
the  state  entith'd  to  the  same.  Return  premiums,  as  defined  in 
section  1219,  may  be  deducted  in  determining  the  premium  on 
which  the  dues  are  payable  under  section  1926. 

4.  The  commissioner  of  insurance  shall,  on  or  before  the  first 
day  of  May  in  each  year,  compile  the  total  amount  of  fire  de- 
partment dues  paid  by  all  companies  and  insurers  as  herein 
required,  and  certify  the  total  amount  for  each  city,  village  or 
town  to  the  secretary  of  state :  and  such  amount  shall,  upon  be- 
ing: audited  by  the  secretary  of  state,  be  paid  by  the  state  treas- 
urer to  the  respective  treasurers  of  the  cities,  villages  and  towns 
entitled  to  the  same. 

?  The  commissioner  shall  ako  transmit  to  the  treasurer  of 
each  city,  village  and  town  entitled  to  any  such  fire  department 
dues,  a  statement  giving  the  name  of  each  company  or  insurer, 
paying  any  such  dues  for  such  city,  village  or  town,  with  the 
amount  paid.    . 

6.  The  provisions  of  this  section  shall  stand  in  lieu  of  the 
giving  of  a  bond,  and  the  making  of  a  sworn  statement,  and 
the  payment  of  the  fire  department  dues  required  from  each 
underwriter  or  agency  required  by  section  1926;  provided,  that 
if  any  company  or  insurer  shall  fail  to  pay  the  tax  at  the  time 
required  in  this  section,  the  provisions  of  section  1926  shall 
apply. 

7.  There  is  hereby  appropriated  out  of  any  money  in  the 
treasury,  not  otherwise  appropriated,  a  sum  sufiicient  to  carry 
cut  the  provisions  of  this     *     *     *     section. 


TOWN  MUTUAL  COMPANIES. 

1927  M89S.  ch.  202,  1901  ;  ch.  439.  1907.) 
Organization. 
Section  1927.  1.  Any  number  of  persons,  not  less  than 
twenty-five,  residing  in  the  same  town  or  in  adjoining  towns 
not  exceeding  thirty  in  number,  except  in  cases  where  any 
county  contains  a  larger  number,  when  all  the  towns  therein 
may  be  included,  who  collectively  own  insurable  property  of 
not  less  than  twenty-five  thousand  dollars  in  value  which  they 
desire  to  have  insured,  may  form  themselves  into  a  corpora- 
tion for  mutual  insurance  against  loss  or  damage  by  fire  or 
lightning  by  (complying  with  the  following  conditions  namely: 
They  sliall  sign  articles  of  organization  which  shall  be  sub- 
stantially in  the  following  form: 


57  TOWN  MUTUALS.  '1927 

Articles;  form. 

2.  The  undei'signeci  residents  of  the  town  below  named  and 
owners  of  more  than  twenty-five  thousand  dollars'  worth  of 
property  therein  which  we  desire  to  insure,  do  hereby  asso 
eiate  for  the  purpose  of  forming  a  mutual  fire  insurance  cor- 
poration to  do  such  insurance  in  the  towns  of  (here  insert  the 
names  of  each  town  in  which  such  corporation  proposes  to  do 
business  and  the  names  of  the  counties  in  which  they  are 
situated),  under  the  provisions  of  sections  1927  to  1941,  in- 
clusive, of  the  Wisconsin  statutes.  The  name  of  such  corpora- 
tion shall  be  the (give  name  at  length) 

The  officers  shall  be  a  board  of  directors.  . .  . 

(insert  number,  not  less  than  five  nor  more 

than  eleven),  a  president,  secretary  and  treasurer  and  such 
others  as  may  be  provided  for  in  the  by-laws  of  such  corpora- 
tion, and  the  office  of  such  corporation  shall  be  in  the  tow^n 
from  which  said  directors  shall  elect  their  secretary,  in  the 

county  of The  following  named  persons  shall 

constitute  the  first  board  of  directors  and  shall  hold  their  re- 
spective offices  for  one  year  and  until  their  successors  are 
elected  (here  insert  the  names).     In  witness  Avhereof  we  have 

hereunto  subscribed  our  names,  this 

day  of .A.  D.  190.... 

1927  (3)   (Ch.  81,  1909,  in  efi^ect  April  2,  1909.) 

Articles  of  organization;  amendment;  filing;  recording. 

8.  Such  articles  of  organization  shall  be  subscribed  by  at 
least  twenty-five  persons,  residents  of  the  towns  therein  named, 
who  are  owners  of  at  least  twenty-five  thousand  dollars'  worth 
of  property  which  shall  be  insured  by  such  corporation. 

a.  Two  copies  of  the  original  articles,  each  accompanied  by 
the  affidavit  of  two  of  the  signers  thereof  stating  that  they  are 
personally  acquainted  with  the  signers  and  know  them  to  be 
the  OAvners  of  property  to  the  amount  stated  in  said  articles, 
which  may. be  insured  for  said  sum,  and  that  such  copy  is  a 
true  and  complete  copy  of  the  original  articles  of  organization, 
shall  be  forwarded  to  the  commissioner  of  insurance,  and  if 
approved  by  him  and  the  attorney-general,  the  former  shall  file 
one  copy  in  his  office  and  attach  to  the  other  copy  his  certificate 
of  such  filing.  Such  certified  copy  shall  within  thirty  days  be 
recorded  in  the  office  of  the  register  of  deeds  of  the  county  in 
which  the  greater  number  of  the  directors  named  in  said  articles 
reside.  The  register  of  deeds  shall  forthwith  transmit  to  the 
commissioner  of  insurance  his  certificate  stating  the  time  and 
place  when  such  copy  was  recorded,  and  shall  be  entitled  to  a 


1927  (3)  TOWN  MUTUALS.  Sg 

fee  of  twenty-five  cents  therefor  to  be  paid  by  the  person  pre- 
senting the  same  for  record.  Upon  the  receipt  of  such  cer- 
tificate the  commissioner  of  insurance  shall  issue  a  certificate 
of  incorporation. 

b.  Thereupon  the  persons  subscribing  said  articles,  'and  such 
as  shall  afterwards  become  insured  thereby,  shall  be  a  corpora- 
tion by  the  name  mentioned  in  said  articles  with  the  usual 
powers  and  subject  to  the  usual  duties  and  liabilities  of  a  cor- 
poration for  the  purpose  hereinafter  mentioned. 

c.  The  articles  of  organization  may  be  amended  by  a  resolu- 
tion adopted  by  four-fifths  of  the  votes  cast  at  any  annual  or 
special  meeting.  A  notice  reciting  the  proposed  amendment 
shall  be  given  by  mail  to  the  members  at  least  thirty  days  prior 
to  the  adoption  of  any  such  amendment.  The  secretary  shall 
give  such  notice  upon  request  therefor  by  ten  or  more  members. 
Within  ten  days  after  the  adoption  of  such  amendment  two 
copies  thereof  and  the  minutes  showing  the  vote  by  which 
adopted,  and  of  the  affidavit  of  the  secretary  of  the  mailing 
of  such  notice,  verified  as  such  by  the  affidavit  of  the  president 
and  secretary  shall  be  forwarded  to  the  commissioner  of  in» 
surance,  and  if  approved  by  him  and  by  the  attorney-general, 
the  former  shall  file  one  copy  in  his  office  and  attach  to  the 
other  copy  his  certificate  of  such  filing.  Such  certified  copy 
shall  be  recorded  as  provided  for  the  articles  of  organization 
and  a  like  certificate  made  by  the  register  of  deeds. 

1927  (4,  5,  6,  7)  (1898;  ch.  202,  1901;  ch.  439,  1907.)  . 
Name. 

4.  The  words  ' '  Town  Insurance  Company ' '  shall  form  part 
of  the  name  of  every  such  corporation  hereafter  organized, 
and  no  corporation  not  organized  under  this  section  shall  be 
entitled  to  use  a  name  embodying  said  words,  except  that  cor- 
porations now  existing  may  continue  their  present  names. 

Change  of  name. 

5.  Corporations  organized  under  this  section  may  change 
their  name  to  conform  thereto. 

Division  of  towns. 

6.  The  subsequent  division  of  the  territory  of  the  towns 
mentioned  in  the  articles  into  new  towns  shall  not  impair  any 
power,  duty  or  liability  of  such  corporatioir. 


59  TOWN  MtJf UALS.  1927(4,5,6,7) 

Copies  furnished  commissioner. 

'/'.  A  copy  of  the  articles,  by-laws,  policy,  and  of  each  blank 
used  by  any  such  company  shall  be  furnished  to  and  filed  and 
preserved  by  the  commissioner  of  insurance. 

Section  1927  is  referred  to  in  sections  1914a — 3,  1946n. 

1928  (1898,  ch.  81,  1901;  ch.  165,  1911,  in  effect  May  18,  1911.) 
Directors,  clarification:,  voting,  manner  of,  how  changed. 

Section  1928.  1.  The  directors,  subsequent  to  the  firgt  board, 
shall  be  chosen  by  ballot  at  the  annual  meeting  of  the  corpora- 
tion, which  shall  be  held  on  the  first  Tuesday  after  the  first 
Monday  of  January,  unless  sopae  other  day  be  fixed  therefor 
by  a  majority  of  the  votes  cast  at  any  annual  meeting.     *     *     *. 

2.  Each  *  *  *  person  insured  shall  have  one  vote  for 
each  two  hundred  dollars  for  which  he  is  insured,  at  such  elec- 
tion and  in  the  transaction  of  all  other  business  of  the  corpora- 
tion. But  no  person  shall  vote  by  proxy  except  women,  and 
no  persons  shall  have  the  right  to  vote  more  than  one  proxy. 

3.  The  corporation  may  by  a  two-thirds  vote  of  the  votes  cast 
at  any  annual  meeting,  adopt  a  resolution  providing  that  its 
board  of  directors  shall  consist  of  nine  persons ;  that  they  shall 
be  divided  into  three  classes  of  three  persons  each,  and  be 
designated  as  the  first,  second  and  third  classes.  Thereafter 
the  directors  of  the  first  class  shall  be  elected  for  one  year, 
those  of  the  second  class  for  two,  and  those  of  the  third  class 
for  three  years,  and  in  each  case  hold  office  until  their  successors 
are  qualified,  and  thereafter  all  elections  shall  be  for  three 
years,  except  that  vacancies  shall  be  filled  for  the  unexpired 
term.  Provided,  that  any  such  corporation  may,  hy  a  resolution 
adopted  hy  two-thirds  of  the  votes  cast  at  any  annual  meeting, 
elect  to  give  to  each  member  one  vote  at  shch  election  and  in  the 
transaction  of  all  other  business  of  the  corporation. 

1929  (1898,  ch.  168,  1899.) 

Directors'  terms;  officers;  records;  place  of  meeting. 

Section  1929.  The  directors  shall,  unless  the  corporation 
otherwise  direct,  in  accordance  with  the  preceding  section  hold 
their  office  for  one  year  and  until  their  successors  are  elected. 
They  shall  choose  from  their  number  a  president,  secretary  and 
a  treasurer,  the  latter  of  whom  may  be  chosen  from  members 
of  the  company,  and  keep  a  record  of  all  their  proceedings  in  a 
book  kept  for  that  purpose,  together  with  the  names  and  places 
of  residence  of  alV  persons  insured  and  the  amount  for  which 
each  is  insured,  which  shall  be  open  for  inspection  of  all  mem- 
bers of  the  corporation  from  nine  o'clock  in  the  forenoon  to 


1929  TOWN   MUTUALS.  6^ 

four  o  'clock  in  the  afternoon  of  such  days  of  each  week  as  may 
be  determined  by  its  annual  meeting.  The  board  of  directors 
may  change  the  place  of  the  annual  meeting  of  the  corporation 
to  any  town  inside  the  boundary  of  its  corporate  limits  not- 
withstanding its  by-laws  may  designate  some  particular  town 
as  the  place  for  holding  such  meeting, 

1930 

Treasurer's  bond. 

Section  1930.  The  treasurer,  before  entering  upon  the  du- 
ties of  his  office,  shall  execute  to  such  corporation  and  file  with 
the  secretary  a  bond  conditioned  for  the  faithful  discharge  of 
the  duties  of  his  office,  with  two  or  more  securities  in  such  sum, 
not  less  than  five  thousand  dollars,  as  the  directors  may  order, 
such  bond  and  sureties  to  be  approved  by  the  president  and  a 
majority  of  the  directors. 

1931  (1898,  ch.  352,  1903;  ch.  36,  1905;  ch.  442,  1907;  ch.  155, 
1911,  in  elfect  May  15,  1911.) 
Territory,  property  insured  in  cities  and  villages. 
(Section    1931)     1.   (a)   No    such   corporation    shall    insure 
any  property  outside  of  the  territory  described  in  its  articles 
of  incorporation  or  any  resolution   adopted  pursuant  to  the 
former  law  extending  such  territory,  or  any  amendment  to  its 
articles. 

(b)  Any  city  or  incorporated  village  within  or  adjoining 
any  town  belonging  to  such  territory,  may  be  included  therein 
or  added  thereto,  the  same  as  any  other  town,  but  such  city  or 
village  shall  not  be  counted  in  determining  the  number  of  towns 
under  which  such  corporatioii  may  do  business.  Any  such 
company  now  transacting  business  in  any  such  city  or  village, 
now  existing  or  hereafter  organized,  without  the  same  being 
included  in  its  territory,  as  hereinbefore  specified,  may  never- 
tiieless  continue  to  do  business  therein  until  the  second  annual 
meeting  after  tfie  passage  of  this  act  or  the  organization  of  such 
city  or  village,  when  all  business  in  such  company  shall  be  can- 
celed or  the  articles  be  amended  to  specifically  include  such 
city  or  village 

(c)  No  property  shall  be  insured  in  any  such  city  or  "village 
except  farm  property  or  detached  dwelling  houses  and  contents, 
or  barns  or  outbuildings  used  in  connection  with  such  dwelling 
house  and  not  used  for  trade  or  manufacturing,  and  the  con- 
tents of  such  barns  or  outbuildings. 


61  TOWN   MUTUALS.  1931  (2) 

1931(2)  (1898,  ch.  353,  1903;  cli.  36,  1905;  ch.  442,  1907;  ch.  99, 
1909,  in  effect  May  11,  1909.) 
Risks ;  kind ;  single,  maximum. 

2.  No  such  corporation  shall  insure  any  property  other  than 
detached  dwellings  and  their  contents,  farm  buildings  and  their 
contents,  live  stock  in  possession,  use  or  running  at  large,  farm 
products  on  premises  and  farming  tools,  implements  and  ma- 
chinery; providing  that  it  may,  when  its  directors  shall  be  so 
authorized  at  any  annual  meeting,  insure  property  in  any  of 
the  following  classes,  in  an  amount  not  exceeding  thirty-five 
hundred  dollars  on  any  single  risk,  to-wit:  (1)  country  stores, 
(2)  school  houses,  (3)  town  and  society  halls,  (4)  churches, 
(5)  country  hotels,  (6)  water  mills,  (7)  blacksmith  shops, 
(8)  cheese  factories,   (9)   creameries,  and  the  contents  of  any 

such  buildings. 

• 
May  assume  cyclone  risk,  when. 

3.  And  it  may  at  such  time  authorize  its  directors  to  insure 
any  of  the  classes  of  property  herein  mentioned  against  damage 
or  loss  by  wind  storms,  cyclones  and  tornadoes,  under  the  same 
rules  and  restrictions  as  relate  to  insurance  by  it  against  dam- 
age or  loss  by  fire ;  provided,  that  a  request  in  writing,  signed 
by  at  least  ten  members  of  the  corporation,  be  filed  with  the 
secretary  at  least  thirty-five  days  before  the  next  annual  meet- 
ing of  the  corpbration  requesting  that  the  question  of  insuring 
against  damages  or  loss  by  wind  storms,  cyclones  and  tornadoes 
be  submitted  at  such  meetings,  and  that  the  secretary"  give 
thirty  days'  notice  by  mail  to  each  member  of  the  corporation 
at  his  postofifice  address,  that  said  question  will  be  submitted  at 
such  meeting. 

Section  1931  is  referred  to  in  sections  1932,  1941a — 3. 

1931a  (Ch.  153,  1909,  in  effect  May  19,  1909.) 
Re-insurance. 
Section  1.  Section  1931a  of  the  statutes  is  amended  to  read: 
Section  1931a.  Any  such  corporation  may,  at  any  annual  meet- 
ing or  special  meeting  thereof  convened  for  that  purpose,  au- 
thorize its  board  of  directors  to  effect  re-insurance  in  some  other 
town  insurance  company  of  this  state,  doing  business  in  the 
same  or  adjoining  territory  and  in  like  manner  to  re-insure 
similar  risks  of  any  other  such  corporation. 

1932 

Terms  of  policies;  approval  of  form. 
Section   1932.     The  board   of  directors  may   issue  policies 
signed  by  the  president  and  secretary,  agreeing  in  the  name  of 


1932  TOWN   MUTUALS.  62 

the  corporation  to  pay  to  the  insured  all  loss  or  damage  of  and 
to  the  property  mentioned  and  described  therein  which  may  be 
occasioned  by  either  of  the  causes  mentioned  in  section  1931, 
Hud  providing  for  such  conditions  of  insurance  as  may  be  de- 
termined b}^  the  by-laws  of  such  corporation  or  by  the  resolu- 
tions of  its  annual  meeting;  but  no  such  corporation  shall  make 
or  execute  any  policy  until  the  blank  form  for  the  same  shall 
have  been'  submitted  to  and  approved  by  the  commissioner  of 
insurance;  provided,  that  no  such  company  shall  be  required 
to  use  the  standard  policy;  and  the  said  board  or  a  committee 
of  not  less  than  three,  at  least  two  of  whom  shall  be  directors, 
or  the  corporation  may  classify  the  property  insured  at  the 
time  of  issuing  policies  thereon  under  different  rates,  corre- 
sponding as  near  as  may  be  to  the  greater  or  less  risk  which 
may  attach  to  such  property. 

'• 
1933 

Liabilities  of  members. 
•  Section  1983.  Every  person  to  whom  any  such  policy  is 
issued  shall  be  deemed  a  member  of  such  corporation,  and 
shall  give  his  undertaking,  bearing  even  date  with  such  policy 
binding  himself,  his  heirs,  and  assigns  to  pay  his  pro  rata 
share  to  the  corporation  of  all  losses  or  damages  wiiich  may 
be  sustained  by  any  member  thereof,  and  of  its  necessary 
business  expenses,  together  with  all  legal  costs  and  charges 
incurred  in  case  legal  proceedings  are  commenced  to  collect 
any  assessment  made  upon  him ;  and  every  such  undertaking 
shall,  within  ten  days  after  its  acceptance,  be  filed  in  the  office 
of  the  secretary  and  shall  remain  on  file  in  such  office  except 
when  required  to  be  produced  in  court  as  evidence.  He  shall 
also  at  the  time  of  effecting  such  insurance,  pay  such  percent- 
age in  cash  and  such  reasonable  sums  for  a  policy  as  may  be 
required  by  the  rules  or  by-laws. 

1934 

Notice  and  adjustment  of  loss. 
Section  1934.  Every  member  of  such  corporation  who  may 
sustain  loss  or  damage  from  any  cause  insured  against  shall 
immediately  notify  the  president,  or  in  his  absence  the  secre- 
tary thereof,  who  shall  forthwith  convene  the  directors,  whose 
duty  it  shall  be  when  so  convened  to  appoint  a  committee  of 
not  less  than  three  nor  more  than  five  members  of  such  cor- 
poration, except  in  case  the  loss  is  supposed  to  be  less  than 
three  hundred  dollars  when  the  president  and  secretary  may 
appoint  such  committee,  to  ascertain  the  amount  of  such  loss 


63  TOWN  MUTUALS.  1934 

or  damage;  provided,  that  when  any  loss  or  damage  does  not 
exceed  one  hundred  dollars  the  president  and  secretary  may 
in  their  discretion,  adjust  the  same  without  the  appointment 
of  any  such  committee;  and  provided  further,  that  the  board 
of  directors  may  appoint  a  committee  of  not  less  than  three 
members  of  the  corporation  for  the  adjustment  of  all  losses 
that  may  occur  during  the  year;  and  in  case  of  the  inabilities 
of  the  parties  to  agree  upon  the  amoimt  of  such  loss  or  dam- 
ages the  claimant  may  appoint  one  disinterested  person  on  his 
part,  and  upon  receiving  notice  from  such  claimant  of  such 
appointment  the  president  of  the  corporation  shall  forthwith 
appoint  a  member  of  such  corporation,  and  the  two  persons 
so  appointed  shall  forthwith  proceed  to  appoint  a  third  person 
who  shall  be  disinterested,  and  the  three  persons  so  appointed 
shall  constitute  a  committee  of  reference,  who  shall  have  full 
authority  to  examine  witnesses  and  determine  all  matters  in 
dispute,  and  shall  make  their  aw^ard  to  the  president,  or  in  his 
absence  to  the  secretary  of  such  corporation  which  award 
thereon  shall  be  final.  The  said  committee  of  reference  shall 
I  each  be  allowed  two  dollars  per  day  for  each  day 's  service  so 
I  rendered  and  five  cents  per  mile  for  each  mile  necessarily 
i  traveled  in  the  discharge  of  such  duties,  which  shall  be  paid  by 
the  claimant,  unless  the  award  of  said  committee  shall  exceed 
the  sum  offered  by  the  corporation  in  liquidation  of  such  loss 
or  damage,  in  which  case  the  said  expense  shall  be  paid  by  said 
corporation.  Before  entering  upon  their  duties  each  member 
of  said  committee  shall  be  duly  sworn  to  faithfully  and  im- 
partially discharge  the  duties  thereof.  The  secretary  of  any 
such  corporation  may  administer  any  oaths  and  take  any  ac- 
knowledgments necessary"  to  adjust  claims  against  his  com- 
pany; provided,  that  he  shall  receive  no  compensation  for  such 
service. 

Section  1934  is  referred  to  in  sections  1941a~3,  1941 — 8. 

1935  (1898;  ch.  457,  1907;  ch.  156,  1911,  in  effect  May  15,  1911.) 
Assessments,  notices,  non-payment,  borrowing  money. 
Section  1935.  1.  Whenever  the  amount  of  any  loss  so  as- 
certained shall  exceed  the  amount  of  the  cash  funds  of  the  cor- 
poration the  president  shall  convene  the  board  of  directors, 
who  shall  make  an  assessment  upon  all  property  insured  by  it, 
at  the  time  of  the  loss,  in  proportion  to  the  amount  thereof  and 
the  rate  under  which  it  may  have  been  classified,  sufficient  at 
least  to  pay  such  loss :  provided,  that  such  board  may  assess  up 
to  three  and  a  half  mills  even  if  such  loss  should  not  require 
stich  an  amount.     The  hoard  of  directors  may  also  levy  an  assess- 


1935  '  TOWN   MUTUALS.  64 

me7it  at  any  time  for  the  purpose  of  carrying  on  the  business  of 
the  company,  regardless  of  whether  or  not  a  loss  has  occurred. 
*  *  *  AVlien  *  *  *  any  assessment  shall  have  been  com- 
pleted tlie  secretary  shall  immediately  insert  a  notice  in  one  or 
more  newspapers  printed  in  the  county  or  counties  where  such 
a  corporation  is  doing  business,  stating  therein  the  time  when 
such  assessment  was  levied  and  the  time  when  the  same  be- 
comes due,  such  notice  together  with  the  proof  of  the  publica- 
tion thereof  shall  be  conclusive  evidence  of  notice  of  such  as- 
sessment to  every  member  of  the  corporation ;  the  secretary 
shall  also  notify  every  such  member  and  the  mortgagee  or 
mortgagees  to  whom  the  insurance  of  any  such  member  may 
be  made  payable  by  letter  or  postal  card  sent  to  his  usual  post- 
office  address,  of  the  amount  of  such  loss,  or  assessment,  and  the 
sum  due  from  him  as  his  share  thereof,  and  the  time  when  and 
to  whom  payment  thereof  is  to  be  made,  which  time  shall  not  be 
less  than  thirty  nor  more  than  sixty  days  from  the  date  of  such 
notice. 

2.  The  treasurer  or  person  designated  to  receive  such  money 
may  demand  and  receive  two  per  cent  in  addition  to  the  amount 
of  each  such  assessment  for  his  fees  in  reciving  and  paying 
over  the  same.  Such  assessment,  when  collected  shall  be  paid 
to  the  person  entitled  thereto  according  to  the  terms  of  the 
policy  issued  to  him ;  provided,  that  if  any  loss  shall  occur  dur- 
ing the  first  eight  months  in  any  year  the  board  of  directors,  at 
the  time  of  making  the  assessment  therefor,  may  borrow  money 
sufficient  to  pay  the  same  at  a  rate  of  interest  not  exceeding 
eight  per  cent,  and  shall  therein  include  such  interest  in  the 
assessment  and  direct  the  payment  of  such  assessment  to  be 
made  not  later  than  the  thirty-first  day  of  December  next  fol- 
lowing. 

3. '  Every  member  who  shall  neglect  or  refuse  to  pay  such  as- 
sessment at  the  time  specified  in  the  notice  sent  to  him,  shall 
pay  to  such  corporation  a  fine  of  two  i^er  cent  of  the  amount 
of  such  assessment  for  each  week  or  part  thereof  during  which 
the  same  shall  remain  unpaid,  and  no  payment  shall  be  made  by 
any  company  upon  the  policy,  of  any  member,  hereafter  writ- 
ten, who  shall  sustain  a  loss,  if  such  member,  at  the  time  of 
such  loss,  sliall  be  in  default  and  shall  have  neglected  or  re- 
fused to  pay  such  assessment  at  the  expiration  of  thirty  days 
from  the  time  specified  in  said  notice  sent  to  him. 


65  TOWN  MUTUALS.  1936 

1936 

Actions  to  collect;  directors'  liability, 

Section  1936.  An  action  at  law  may  be  brought  against  any 
member  of  such  corporation  who  shall  refuse  or  neglect  to  pay 
any  such  assessment  made  upon  his  insured  property.  The  di- 
rectors of  any  such  corporation  who  shall  wilfully  neglect  or 
refuse  for  thirty  days  to  perform  the  duties  imposed  upon  them 
either  in  this  or  the  next  preceding  section  shall  be  jointly  or 
severally  liable  in  their  individual  capacity  to  the  person  sus- 
taining such  loss. 

Section  1936  is  referred  to  in  1927  (2),  1941a— 3,  1941n. 

1937  (1898;  ch.  169,  1899.) 

Withdrawal  of  members ;  cancellation  of  policies. 

Section  1937.  Any  member  of  such  corporation  may  with- 
draw therefrom  at  any  time  by  returning  his  policy  with  a  re- 
quest for  its  cancellation  written  thereon  or  by  a  notice  in 
writing  over  his  own  signature  properly  witnessed  (one  wit- 
ness) to  the  president  or  in  his  absence  to  the  secretary  thereof, 
and  paying  his  share  of  all  claims  then  existing  against  said 
corporation.  And  the  directors,  or  a  majority  thereof  or  such 
and  so  many  of  them  as  they  may  have  appointed  as  a  com 
mittee  for  such  purpose  shall  have  power  to  annul  any  policy 
by  giving  notice  in  writing  to  that  effect  to  the  holder  thereof. 

Section  1937  is  referred  to  in  1927   (2),  1941a— 3,  1941n. 

1938 

Secretary  and  treasurer's  report. 

Section  1938.  The  secretary  of  every  such  corporation  shall 
annually  prepare  a  statement  showing  its  condition  on  the  31st 
day  of  December  preceding  its  annual  meeting,  which  shall 
contain  the  names  of  all  persons  then  insured,  the  amount  in- 
sured by  each  policy,  the  whole  number  of  policies  issued,  the 
whole  number  then  in  force,  the  aggregate  amount  then  insured 
and  the  aggregate  amount  of  each  class  of  insured  property,  the 
amount  of  losses  paid  during  the  year,  the  whole  amount  of 
losses  paid,  and  the  whole  amount  insured  by  the  corporation 
since  its  organization,  the  amount  of  losses  sustained  and  un- 
paid, if  any,  and  all  such  other  matters  pertaining  to  its  in- 
terest as  by  the  by-laws  he  may  be  required  to  report  upon. 
The  treasurer  of  every  such  corporation  shall  annually  prepare 
a  statement  of  its  financial  condition  on  the  31st  day  of  De- 
cember preceding  its  annual  meeting  showing  amount  on  hand 
January  1  preceding,  amount  received  during  the  year  from 

premiums,   amount  received   from    assessments    Nos.    , 

amount  received  from  any  other  sources,  amount  paid  for  losses, 
amount  paid  for  expenses,  giving  a  detailed  statement  of  every 
5—1.  L. 


1938  TOWN  MUTUALS.  66 

item  of  expenses,  and  amount  of  cash  on  hand.  Such  state- 
ments or  so  much  thereof  as  said  corporation,  at  its  annua) 
meeting,  may,  by  resolution  or  otherwise,  ag'ree  upon  shall  be 
read  to  the  members  at  such  meeting  and  entered  at  length 
upon  the  records:  and  within  fifteen  days  after  such  meeting 
shall  be  filed  in  the  office  of  the  clerk  of  the  county  in  which 
such  corporation  has  its  office  and  certified  copies  thereof  trans- 
mitted to  the  commissioner  of  insurance. 

Section  1938  is  referred  to  in  1927   (2),  1941a— 3,  1941—12,  1941n. 

1939 

Non-resident  members. 

Section  1939.     A  non-resident  of  any  town,  owning  insur- 
able property  therein,  may  become  a  member  of  any  such  cor- 
poration authorized  to  insure  property  in  such  town  and  shall 
be  entitled  to  all  rights  and  privileges  of  such  member. 
Section  1939  is  referred  to  in  1927   (2),  1941a— 3,  1941n. 

1940  (Ch.  31,  1909,  in  effect  April  2,  1909.) 

Risks;  territory;  amendment  to  articles;  exception.  | 

Section  1940.  Any  such  corporation  may  attach  any  adjoin-: 
ing  town  or  towns  as  part  of  its  territory  in  which  it  may 
thereafter  do  business;  j^rovided  the  town  or  towns  so  attached, 
together  with  those  already  within  its  jurisdiction,  shall  nol 
exceed  thirty,  except  in  cases  where  all  such  towns  shall  be 
within  the  same  county.  No  town  or  towns  shall  be  so  at- 
tached except  by  amendment  to  the  articles  of  organization 
provided  nothing  herein  contained  shall  affect  any  compam 
already  doing  business  outside  of  the  county  in  which  it  h 
organized. 

Section  1940  is  referred  to  in  1927   (2),  19'41a— 3,  1941n. 

1941 

Authority  of  existing  companies ;  new  towns,  how  broughl 
in. 

Section  1941.  All  tcwn  insurance  corporations  heretofor( 
organized  under  any  law  shall  be  deemed  to  be  organized  undei 
and  governed  by  the  provisions  of  the  laws  of  this  state ;  anc 
Ruch  existing  corporations  shall,  without  reorganization,  b( 
authorized  to  insure  in  such  town  or  towns  as  they  may  hav 
heretofore  effected  insurance  in,  not  exceeding  in  all  twenty  ad 
joining  towns;  but  each  such  corporation  desiring  to  extend  it 
territory  beyond  the  town  or  towns  in  which  it  was  originall; 
organized  shall,  within  six  months  after  the  adoption  of  thes 
statutes,  file  in  tlie  office  of  the  county  clerk  of  the  county  ii 
which  its  office  is  located  a  declaration  signed  by  its  presiden 
ftnd  secretary  and  duly  acknowledge  by  them  naming  the  towi 


67  TOWN  RE-INSURANCE  MUTUALS.  1941 

or  towns  in  wJiieli  it  has  Jieretoforc  transacted  the  business  of 
insurance  and  declaring  its  intention  to  continue  its  business 
in  such  towns  thereafter. 

Section  1941  is  referred  to  in  1927  (2),  1941a— 3,  1941n. 

1941a^l  (Ch.  130,  1909,  in  etfoct  May  14,  1909.) 
Towii  re-insurance  mutuals,  organization. 

Section  1941a — ^1.  Any  number  of  town  mutual  fire  insur- 
ance companies  organized  under  the  laws  of  this  state,  not  less 
than  nine  in  number,  who  collectively  carry  fire  insurance  risks 
aggregating  not  less  than  teji  million  dollars  ma}^  form  them- 
selves into  a  corporation  for  mutual  re-insurance  against  loss  or 
damage  by  fire  or  lightning. 

Section  1941a — 1  is  referred  to  in  1941a — 4. 

1941a— 2  (Ch.  130,  1909,  in  effect  May  14,  1909.) 
Members ;  representative. 

Section  1941a — 2.  Any  town  mutual  fire  insurance  company 
may,  at  its  annual  meeting,  or  at  a  special  meeting  called  for 
that  purpose,  by  resolution  duly  adopted,  vote  to  become  a 
member  of  a  re-insurance  corporation  to  be  organized  under 
this  chapter.  The  secretary,  or  in  case  of  his  inability  the  pres- 
ident, of  such  town  company  shall  thereupon  be  authorized 
to  represent  such  town  company  in  forming  and  organizing 
such  re-insurance  corporation;  and  shall  in  all  matters  rep- 
resent such  town  company  in  said  re-insurance  corporation. 

Section  1941a — 2  is  referred  in  1941a — 4. 

1941a— 3  (Ch.  130,  1909,  iii  effect  May  14,  1909.) 
Directors;  risks. 

Section  1941a — '3.  1  he  affairs  of  said  re-insurance  corpora- 
tion shall  be  managed  by  a  board  of  nine  directors  who  shall  be 
chosen  by  the  representatives  of  the  town  Companies  composing 
such  re-insurance  corporation  from  among  their  number. 

Such  re-insurance  corporation  shall  have  power  to  re-insure 
the  risks  of  any  of  the  town  mutual  fire  insurance  companies 
composing  such  re-insurance  corporation  ;  and  such  town  mutual 
fire  insurance  companies  are  authorized  to  effect  re-insurance  of 
their  risks  in  said  re-insurance  corporation. 

The  provisions  of  sections  1927  to  1941,  inclusive,  of  the  stat- 
utes, together  with  all  amendments  at  any  time  made  thereto, 
shall,  so  far  as  applicable,  apply  to  the  organization,  manage- 
ment, powers,  rights,  privileges,  duties,  and  burdens  of  such 
re-insurance  corporation,  and  the  members  thereof,  and  the 
relations  of  such  members  with  each  other  and  with  such  re- 
insurance corporation,  and  the  manner  of  withdrawal  gf  mem- 
bers, therefrom. 

Section  1941a^^3  is  referred  to  in  J941a — 4,  !» 


1941a— 4  TOWN  RE-INSURANCE  MUTUALS.  68 

19413^4  (Ch.  130,  1909;  ch.  663,  1911,  in  effect  July  21,  1911.)  i 
Members;  town  mutuals. 

SectioK  1941a — 4.  After  any  re-insurance  corporation  shall - 
have  been  duly  organized .  under  the  provisions  of  *  *  *^ 
sections  1941a — 1  to  1941a — 4,  inclusive,  any  town  mutual  fire  in- 
surance company  may  become  a  member  thereof  whenever  such 
town  insurance  company  shall,  at  its  annual  meeting,  or  at  any 
special  meeting  called  for  that  purpose,  vote  to  apply  for  insur- 
ance in  such  re-insurance  corporation;  and  when  such  applica- 
tion for  insurance  shall  be  accepted  and  approved  as  provided 
by  the  by-laws  of  said  re-insurance  corporation,  such  town 
mutual  fire  insurance  company  shall  thereupon  be  a  member  of 

said  re-insurance  corporation.  ^ 

'1 

1941g  (Ch.  460,  1909,  in  effect  June  19,  1909.) 

Domestic  companies  repeal ;  domestic  stock  and  mutual  '* 
companies. 

Section  1941g.  1.'  (a)  Sections  1896,  1897,  1898,  1899,  1900, 
1901  and  1907,  of  the  statutes,  relating  to  domestic  fire  and. 
marine  insurance  companies,  are  repealed. 

(b)  Sections  1941a,  1941b,  1941c,  1941d,  1941e  and  1941f,  of 
the  statutes,  relating  to  millers'  mutuais,  are  repealed; 

(c)  Sections  1941—1,  1941— la,  1941—3,  1941—8  and  1941—1 
13  of  the  statutes,  relating  to  village  mutuals,  are  repealed ; 

(d)  Sections  1941—14,  1941—15,  1941—16,  1941—17,  1941— 
18,  1941—19,  1941—20,  1941—21  and  1941—22  of  the  statutes, 
relating  to  druggists'  mutuals,  are  repealed; 

(e)  Sections  1941— 22a,  1941— 22b,  1941— 22c,  1941— 22d, 
1941— 22e,  1941— 22f,  1941— 22g,  1941— 22h  and  1941— 22i  of 
the  statutes,  relating  to  plate  glass  mutuals,  are  repealed ; 

(f)  Sections  1941—23,  1941—24,  1941—25,  1941—26,  1941- 
27,    1941— 27a,    1941—28,   1941—29,    1941—30,    1941—31    and! 
1941 — 32,  of  the  statutes,  relating  to  church  mutuals,  are  re- 
pealed ; 

(g)  Sections  1941—33,  1941—34,  1941—35,  1941—36,  1941 
—37,  1941—38,  1941—39,  1941—40  and  1941—41  of  the  stat 
utes,  relating  to  lumber  dealers'  mutuals,  are  repealed; 

(h)  Sections  1966—2,  1966—3,  1966—4,  1966—5,  1966—6, 
1966—7,  1966—8,  1966—9,  1966—10,  1966—11  and  1966—12, 
of  the  statutes,  relating  to  hail  and  cyclone  mutuals,  are  re- 
pealed ; 

(i)  Sections  1966—13,  1966—14.  1966-15,  1966—16,  1966- 
17,  1966—19,  1966—20,  1966—21,  1966—22,  1966—23,  ana 
1966 — 24  of  the  statutes^  relating  to  live  stock  mutuals,  arg 
repealed ; 


69  DOMESTIC  COMPANIES.  194lg 

(j)  Sections  1966—25,  1966—26,  1966—27,  1966—28,  1966— 
29,  1966—30,  1966—31,  and  1966— 31a  of  the  statutes,  relat- 
ing to  domestic  casualty  companies,  are  repealed; 

(k)  Sections  1966— li,  1966—43,  and  1966—49  of  the  stat- 
utes, relating  to  casualty  companies,  are  repealed; 

(1)  Sections  1966—50,  1966—51.  1966—52,  1966—53,  and 
1966 — 54  of  the  statutes,  relating  to  live-stock  business  mu- 
tuals,  are  repealed; 

(m)  Sections  1966—61,  1966—62,  1966—63,  1966—64,  1966 
—65,  1966—66,  1966—67,  1966—68,  1966—69,  1966-^70,  and 
1966 — 71  of  the  statutes,  relating  to  bicycle  mutuals,  are  re- 
pealed; 

(n)  Sections  1966—81,  1966—82,  1966—83,  1966—84,  1966 
^»D,  1966—86,  1966—87  and  1966—88,  of  the  statutes,  re- 
latmg  to  bankers'  casualty  mutuals,  are  repealed. 

By-laws. 

2.  From  and  after  the  repeal  of  the  foregoing  sections,  the 
said  sections  shall  be  considered  as  a  part  of  the  by-laws  of 
the  respective  corporations  heretofore  organized  now  doing 
business  under  the  provisions  of  said  laws,  and  such  by-laws 
shall  remain  in  force  except  as  hereby  or  hereafter  changed 
by  law  or  by  amendment  hereafter  adopted  to  the  by-laws 
by  such  corporation. 

Amendment  of  by-laws. 

3.  When  no  other  provision  is  made  for  the  amendment  of 
the  by-laws  of  such  corporation,  such  by-laws  may  be  amended 
in  the  manner  provided  in  paragraph  (b)  of  subsection  1  of 
section  1897c. 

Term  of  duration,  limitations  removed. 

4.  Every  insurance  corporation  heretofore  organized  and 
now  doing  business  under  the  provisions  of  any  law  of  this 
state  is  continued  without  any  limitation  whatever  upon  the 
duration  of  its  corporate  existence,  notwithstanding  any  lim- 
itation heretofore  imposed  by  law  or  incorporated  into  its  articles 
of  organization. 

1941n  (Ch.  63,  1909,  in  effect  April  24,  1909.) 

Term  of  duration;  validating  provisions;  filing  articles. 

Section  1941n.  Any  town  insurance  company  organized, 
or  attempted  to  be  organized  under  the  provisions  of  sections 
1927  to  1941  inclusive  of  the  statutc^s,  or  the  acts  of  which 
said  sections  are  amendatory,  if  doing  business  as  such  cor- 
poration at  the  time  of  the  taking  effect  of  this  act,  notwith- 


194 In  DOMESTIC   MUTUALS.  70 

standing  the  term  of  duration  of  its  corporate  existence  has 
expired,  the  invalidity  of  any  amendment  to  its  articles  of 
organization,  or  any  provision  or  provisions  of  law  may  not 
have  been  complied  with  in  sui:n  organization,  shall  be  held 
and  considered  to  be  a  corporation  duly  organized  and  exist 
ing  under  the  sections  of  the  statutes  aforesaid,  and  the  term 
of  duration  of  any  such  corporation  is  hereby  extended  with- 
out any  limitation  whatever;  ail  provided,  that  the  said  cor 
poration  shall  file  with  the  com.missioner  of  insurance  a  copy 
of  its  articles  of  organization  ana  any  amendments  thereto, 
duly  verified  as  such  by  the  affidavit  of  its  president  and  sec- 
retary, and  within  thirty  days  after  such  filing,  record  a  copy 
thereof,  duly  certified  by  tne  commissioner  of  insurance,  in 
the  office  of  the  register  of  deeds  of  the  county  in  which  thti 
home  office  of  said  corporation  is  located.  Thereupon  all  acts 
of  such  corporation  are  validated.  Any  limitation  of  the 
term  of  duration  of  any  corporation  organized  under  the  sec- 
tions of  the  statutes  aforesaid,  whether  prescribed  by  statute 
or  in  the  articles  of  organization  or  any  amendment  thereto 
is  hereby  abrogated  and  such  corporation  shall  continue  with- 
out any  limitation  of  its  term  of  duration. 


CITY  AND  VILLAGE  MUTUALS. 

1941—2   fl8C'<S;  eh.  459,  1909.  in  effect  July  1,  1909.) 

City  and  village  mutuals,  meeting,  annual;  vote;  proxy. 
S>ECTi()N  194] — 2.  Unless  otherwise  provided  by  the  consti- 
tution or  by-laws  of  an^^  city  and  village  mutual  fire  insurance 
company,  the  directors,  subsequent  to  the  first  board,  shall  be 
chosen  by  ballot  at  the  annual  meeting  which  shall  be  held  on 
the  third  Monday  of  January  of  each  year,  unless  some  other 
da.y  ))e  fixed  therefor  by  a  majority  of  the  votes  of  such  cor- 
poration. Every  person  insured  shall  have  one  vote  at  such 
election;  and  the  transaction  of  all  other  business,  except  as 
otherwise  provided  by  law,  may  be  determined  viva  voce  or  by 
ballot  as  the  by-laws  or  other  rules  and  regulations  prescribe. 
No  nerson  shall  vote  by  proxy  except  women,  and  no  person 
shall  cast  more  than  one  proxy  vote. 

1941—4 

Treasurer's  bond. 

Section  1941 — 4.  The  treasurer,  before  entering  upon  his 
duties,  shall  execute  to  such  corporation  and  file  with  the  secre- 
tary a  bond  conditioned  for  the  faithful  discharge  of  his  duties. 


71  CITY  AND  VILLAGE  MUtlTALS.  1941—4 

With  two  or  more  sureties,  in  such  sum  as  the  directors  may  or- 
der, such  bond  and  sureties  to  be  approved  by  the  president  and 
a  majority  of  the  directors. 

1941—5   (1898;  ch.  69,  1901;  ch.  93,  1903;  ch.  459,  1909,  in 
effect  July  1.  1909.) 
Risks;  territory;  single;  term. 
Section  1941 — 5.     Such   corporations  may 'insure  property 
located  anywhere  in  this  state,  but  in  no  case  shall  any  single 
risk  exceed  fifteen  hundred  dollars  ($1,500),  except  that  any 
such  corporation  having  a  surplus  may  insure  a  single  risk  in 
an  amount  not  exceeding  one-eighth  of  one  per  centum  of  the 
insurance  in  force,  nor  ten  per  centum  of  the  surplus,  nor  to 
exceed  three  thousand  dollars  on  any  single  risk.     No  policy 
shall  be  issued  for  a  term  of  more  than  three  j^ears. 

1941—6 

Policies ;  approval  of  form ; .  classification  of  risks. 

Section  1941 — 6.  The  board  of  directors  may  issue  policies 
signed  by  the  president  and  secretary,  agreeing  in  the.  name  of 
1  he  corporation  to  pay  the  insured  all  loss  or  damage  of  and  to 
the  property  mentioned  and  described  therein  to  the  amount 
named  therein,  which  may  be  occasioned  by  fire  or  lightning 
within  the  period  named  in  said  policy,  which  in  no  case  shall 
he  more  than  three  years,  and  providing  for  such  conditions  of 
nisurance  as  may  be  determined  b,v  the  constitution  and  by- 
laws, or  the  resolutions  of  the  annual  meeting;  but  no  policy 
shall  be  made  or  executed  until  the  blank  form  therefor  shall 
have  been  submitted  to  and  approved  by  the  commissioner  of 
insurance ;  provided,  that  no  such  company  shall  be  required  to 
use  the  standard  policy.  The  said  board,  a  committee  of  not 
less  than  three,  at  least  two  of  whom  shall  be  directors,  or  the 
corporation  may  classify  the  property  insured  at  the  time  of 
issuing  policies  thereon  under  different  rates  corresponding,  as 
near  as  may  be,  to  the  greater  or  less  risk  which  may  attach  to 

,.  the  several  buildings  or  property  insured. 

I     See  notes  to  section  1932. 

1941—7  (1898;  ch.  25,  1899;  ch.^196,  1905;  ch.  521,  1909,  in 

effect  June  19,  .1909.) 

Members ;  liability ;  contingent  fund. 

Section  1941 — 7.     Every  person  to  whom  any  such  policy  in 

issued  shall  be  deemed  a  member  of  such  corporation  while  such 

policy  is  ill  force,  and  it  shall  be  lawful  for  such  corporation  to 

I  require  the  payment  of  such  premiums,  make  assessments  upon 


1941 — 1  ASSESSMENT,  NOTICE.  72 

its  members,  and  enforce  the  collection  thereof  as  circumstances 
may  require  and  as  may  be  specified  in  its  constitution  or  by- 
laws or  fixed  by  resolution;  and  the  members  thereof  shall  be 
subject  to  such  other  duties  as  may  be  prescribed  by  the  by- 
laws. Such  corporations  may  accumulate  a  contingent  fund 
consisting  of  the  premium  receipts  each  year  which  are  not 
required  to  pay  the  losses  and  expenses  of  the  corporations, 
which  constitute  the  balance  at  the  close  of  the  year.  Such 
fund  shall  be  limited  to  an  amount  not  to  exceed  ten  per  cent,  of 
the  amount, of  insurance  in  force  and  shall  be  used  for  the  pay- 
ment of  losses,  actual  expenses,  and  return  premiums  for  the 
current  year  only. 

1941— 7m  (Ch.  521,  1909,  in  effect  June  19,  1909.) 

Policy  fees;  limitation;  report.  ^ 

Section  1941 — -7m.     No  such  corporation  shall  charge  or  col-  | 
lect  or  permit  to  be  charged  or  collected  any  fee  in  excess  of  the  1^ 
premium  so  required  to  be  paid,  provided  that  any  such  cor-  i 
poration  may  by  its  by-laws  require  all  of  its  members  to  pay  I 
in  addition  to  their  premium  a  policy  fee  of  not  to  exceed  $1.50 
on  each  policy  issued,  such  policy  fee  when  so  fixed  to  be  col- 
lected with  and  as  part  of  the  amount  paid  by  each  member  for  ,| 
each  policy.     Such  policy  fee  shall  be  accounted  for  in  the  same 
manner  as  the  other  receipts  and  disbursements  of  such  cor- 
poration. 

1941—9  (1898;  ch.  459,  1909;  ch.  167,  1911,  in  effect  May  18,  i 
1911.) 
Assessment,  notices,  mortgagee,  borrowing  money. 
Section  1941 — 9.     1.  Whenever  the  amount  of  any  loss  shall 
exceed  the  amount  of  the  cash  funds  of  the  corporation  the 
president,  or  in  his  absence,  the  vice-president  shall  convene 
the  board  of  directors,  who  shall  make  an  assessment  upon  all 
property  insured  at  the  thne  of  such  loss  in  proportion  to  the 
amount  thereof  and  the  rate  under  which  it  may  have  been 
classified,  sufficient  at  least  to  pay  such  loss;  provided,  that 
such  board  may  assess  up  to  four  mills  even  if  such  loss  should 
not  require  such  an  amount. 

2.  The  hoard  of  directors  in  their  discretion  may  assess  up  to  a 
like  amount  at  any  time. 

3.  Whenever  such  assessment  shall  have  been  completed,  the 
secret  r.ry  shall  immediately  cause  to  be  published  for  three 
consecutive  weeks  in  such  weekly  newspaper,  printed  within 
the  city  or  village,  if  any,  in  which  the  office  of  such  company 
is  located,   otherwise  in  such  newspaper  printed  within  the 


T3  ASSESSMENT,  NOTICE. 

county  as  the  board  of  directors  may  designate,  a  notice  statin 
the  time  when  such  assessment  was  levied  and  the  time  when 
the  same  becomes  due ;  said  notice,  together  with  the  proof  cf 
the  publication  thereof,  shall  be  conclusive  evidence  of  notice 
of  such  assessment. 

4.  Or  the  directors  may,  tor  the  purpose  of  paying  losses 
within  the  limit  hereinafter  specified,  borrow  a  sum  not  ex- 
ceeding one-fourth  of  the  premium  and  interest  income  of  the 
company  for  the  preceding  year  for  a  time  not  exceeding  six 
months  at  a  rate  of  interest  not  exceeding  seven  per  cent,  and 
may,  on  or  before  the  maturity  of  such  loan,  levy  an  assess- 
ment upon  the  members  at  the  time  of  the  making  of  such 
loan,  for  the  payment  of  the  same  and  interest.  No  such  loan 
shall  be  renewed. 

5.  Within  thirty  days  after  the  levying  of  such  assessment 
the  secretary  shall  notify  every  member  by  letter  or  postal 
card,  sent  to  his  usual  post-office  address,  of  the  amount  of  such 
assessment,  and  the  sum  due  from  him  as  his  share  thereof,  and 
the  time  within  which  and  to  whom  payment  is  to  be  made, 
which  time  shall  not  be  less  than  thirty  nor  more  than  sixty 
days  from  the  date  of  such  notice.  The  secretary  shall  send  a 
copy  of  the  notice  sent  to  the  member  to  every  mortgagee  or 
vendor  having  any  interest  in  the  insurance  as  shown  by  the 
.'secretary ^s  records,  but  such  notice  shall  not  thereby  increase  the 
liability  of  such  company  to  such  mortgagee  or  vend>or. 

6.  If  the  assured  neglect  to  make  paj^inent  of  any  assessment 
within  the  time  specified  in  the  notice  sent  him,  his  policy  shall 
be  null  and  void  until  such  assessment  is  paid,  and  also  his  pro 
rata  share  of  all  other  assessments  which  may  be  levied  durinjx 
the  suspension  of  the  policy  on  account  of  the  nonpayment  of 
a  previous  assessment. 

Section  1941—9  is  referred  to  in  1941 — 10. 

1941— 9m  (Ch.  274,  1909,  in  effect  June  4,  1909.) 
Assessment;  notice;  omission:  validation. 

Section  1941 — 9m.  Whenever  the  secretary  shall  have 
omitted  or  neglected  for  more  than  five  days  to  notify  every 
member  of  an  assessment  as  herein  provided,  such  notification 
thereafter  and  within  one  year  shall,  nevertheless,  be  lawful, 
provided  it  otherwise  comply  with  this  section  and  the  time 
for  payment  be  fixed  in  such  later  notice  at  not  less  than  sixty 
nor  more  than  ninety  days  from  the  date  of  such  notice  as  the 
hoard  of  directors  shall  then  determine.  Any  asse!^:sment  made 
prior  to  January  1,  1909,  in  which  a  bona  fide  attempt  has  been 
piade  to  comply  wi^h  this  section  is  hereby  validated, 


1941 — 10  STANDARD  FIRE   POLICY.  74 

1941—10  (1898;  ch.  459,  1909,  in  effect  July  1,  1909.) 
Assessments;  action;  directors'  liability. 
Section  1941 — 10.  An  action  at  law  may  be  brought  against 
any  member  of  such  corporation  who  shall  refuse  or  neglect 
to  pay  any  assessment  made  upon  his  insured  property,  and 
the  directors  of  any  such  corporation  who  shall  wilfully  neg- 
lect or  refuse  for  thirty  days  to  perform  the  duties  imposed 
upon  them  by  section  1941 — 9  shall  be  jointly  and  severally 
liable  in  their  individual  capacity  to  the  persons  sustaining 
such  loss. 

1941—11  (1898;  ch.  459,  1909,  in  effect  July  1,  1909.) 
Withdrawal ;  cancellation. 
Section   1941 — 11.     Any  policy  may   be   cancelled   as   pro-    1 
vided  in  section  1941 — 52.  upon  the  payment  by  such  member 
of  his  portion  of  all  the  liabilities  outstanding  at  the  time  of 
such  cancellation,  and  the  liability  on  the  part  of  such  member 
on  such  policy  shall  cease. 

1941—12  (1898;  ch.  459,  1909,  in  effect  July  1,  1909.) 
Reports. 
Section   1941 — 12.     The   president   and   secretary   of   every 
such  corporation  shall,  on  or  before  the  first  day  of  February 
in  each  year,   make  such  report  as  may  be  required  by  the 
commissioner  of  insurance. 


STANDARD  FIRE  INSURANCE  POLICY. 

1941—42 

Commissioner  to  provide  printed  form. 

Section  1941 — 42.  The  commissioner  of  insurance  shall  pre- 
pare and  file  in  his  office  immediately  after  these  statutes  take 
effect  a  printed  form  in  blank  of  a  policy  of  fire  insurance 
containing  the  provisions,  agreements  and  conditions  specified 
in  the  following  sections,  omitting  section  numbers  from  the 
printed  policy ;  and  such  form  shall  be  known  as  the 

Section  1941—42  is  referred  to  in  sec.  1941—64,  1941—65. 

standard  fire  insurance  policy. 

1941_43 

Formal  part. 

Section  1941— 4'^ 

No. .  $ . 


in  (.'onsidin-ation  of  the  stipulations  herein  named  and 

of dollars  premium  does  insure — —  for  the  term  of 


75  STANDARD  FIRE   POLICY.  1941 — 43 


from  the day  of ,  18 — ,  at  noon,  to  the day 


of  .  18^ — ,  at  noon,  against  all  direct  loss  or  damage  by 

fire,  except  as  hereinafter  provided,  to  an  amount  not  exceed- 
intr  — —  dollars  to  the  following  described  property  while  lo- 
cated and  contained  as  described  herein  and  not  elsewhere,  to- 

wit : 

Section  1941—43  is  referred  to  in  1941—64,  1941—65. 

1941_44 

Liability;  appraisement;  repairs. 

Section  1941 — 44.  Except  when  otherwise  provided  by  stat- 
ute this  company  shall  not  be  liable  beyond  the  actual  cash 
value  of  the  property  at  the  time  any  loss  or  damage  occurs 
and  the  loss  or  damage  shall  be  ascertained  or  estimated  ac- 
cording to  such  actual  cash  value,  with  proper  deduction  for 
depreciation  however  caused,  and  shall  in  no  event  exceed 
what  it  would  then  cost  the  insured  to  repair  or  replace  the 
same  with  material  of  like  kind  and  quality;  said  ascertain- 
ment or  estimate  shall  be  made  by  the  insured  and  this  com- 
pany, or,  if  they  differ,  then  by  the  appraisers  as  hereinafter 
provided ;  and  the  amount  of  loss  or  damage  having  been  thus 
determined  the  sum  for  which  this  company  is  liable  pursuant 
to  this  policy  shall  be  payable  sixty  days  after  due  notice  and 
proof  of  the  loss  have  been  received  by  this  company  in  ac- 
cordance with  the. terms  of  this  policy.  It  shall  be  optional, 
however  with  this  company  to  take  all  or  any  part  of  the 
articles  at  such  ascertained  or  appraised  value,  and  also  to  r(^ 
pair,  rebuild  or  replace  the  property  lost  or  damaged  with 
other  of  like  kind  and  quality  within  a  reasonable  time  on 
giving  notice  within  thirty  days  after  the  receipt  of  the  proof 
herein  required  by  (of)  its  intention  to  do  so;  but  there  can 
be  no  abandonment  to  this  company  of  the.  property  described. 

Section  1941 — 44  is  referred  to  in  sec.  1941—64,  1941—65. 

1941—45 

Concealment;  fraud. 

Section  1941 — 45.  This  entire  policy  shall  be  void  if  the 
insured  hath  concealed  or  misrepresented,  in  writing  or  other- 
wise, any  material  fact  or  circumstance  concerning  this  insur- 
ance or  the  subject  thereof;  or  if  the  interest  of  the  insured  in 
the  property  be  not  truly  stated  herein,  or  in  case  of  any 
fraud  or  false  swearing  by  the  insured  touching  any  matter 
relating  to  this  insurance  or  the  subject  thereof,  whether  be- 
fore or 'after  a  loss. 

Section  1941—45  is  referred  to  in  sec.  1941—64,  1941—65. 

See  sections  4202m. 


1941 — 46  STANDARD  FIRE  POLICY.  76 

1941_46  (1898;  ch.  316,  1899.) 

Other  insurance;  increase  of  risk. 

Section  1941 — 46.  This  entire  policy  unless  otherwise  pro- 
vided by  agreement  endorsed  hereon  or  added  hereto,  shall  be 
void  if  the  insured  now  has  or  shall  hereafter  make  or  pro- 
cure any  other  contract  of  insurance  whether  valid  or  not,  on 
property  covered  in  whole  or  in  part  by  this  policy ; 

Or  if  the  subject  of  insurance  be  a  manufacturing  estab- 
lishment and  it  be  operated  in  whole  or  in  part  at  night  later 
than  ten  o  'clock ; 

Or  if  it  cease  to  be  operated  for  more  than  ten  consecutive 
days ; 

Or  if  the  hazards  be  increased  by  any  means  within  the  con- 
trol or  knowledge  of  the  insured  ; 

Or  if  mechanics  be  employed  in  building,  altering  or  repair- 
ing the  within  described  premises  for  more  than  fifteen  days 
any  one  time ; 

Or  if  the  interest  of  the  insured  be  other  than  unconditional 
and  sole  ownership; 

Or  if  the  subject  of  insurance  be  a  building  on  ground  not 
owned  by  the  insured  in  fee-simple ; 

Or  if  the  subject  of  insurance  be  personal  property  and  be 
or  become  incumbered  by  a  chattel  mortgage ; 

Or  if,  with  the  knowledge  of  the  insured,  foreclosure  pro- 
ceedings be  commenced  or  notice  given  of  sale  of  any  prop- 
erty covered  by  this  policy  by  virtue  of  any  mortgage  or  trust 
deed; 

Or,  if  any  change,  other  than  by  the  death  of  an  insured, 
take  place  in  the  interest,  title  or  possession  of  the  subject  of 
insurance  except  change  of  occupants  without  increase  of 
hazards,  whether  by  legal  process  or  judgment  or  by  volun- 
tary act  of  the  insured  or  otherwise ; 

Or  if  this  policy  be  assigned  before  a  loss ; 

Or  if  illuminating  gas  or  vapor  be  generated  in  the  described 
building  (or  adjacent  thereto)  for  use  therein; 

Or  if,  any  usage  or  custom  of  trade  or  manufacture  to  the 
contrary  notwithstanding,  there  be  kept,  used  or  allowed  on 
the  above  described  premises  benzine,  benzole,  dynamite,  ether, 
fireworks,  gasoline,  greek  fire,  gunpowder  exceeding  twenty- 
five  pounds  in  quantity,  naphtha,  nitro-glycerine  or  other  ex- 
plosive, phosphorous  or  petroleum  or  any  of  its  products  of 
greater  inflammability  than  kerosene  oil  of  the  "Wisconsin 
standard,  which  last  may  be  used  for  lights  and  kept,  for  sale 
according  to  law,  but  in  quantities  not  exceeding  five  barrels, 


77  STANDAtlD  t^lRfi  POLICY.  1S41— 46 

provided  it  be  drawn  and  lamDS  filled  by  daylight  or  at  a 
distance  not  less  than  ten  feet  from  artificial  light; 

Or  if  a  building  herein  described,  whether  intended  for  oc- 
cupancy by  owner  or  tenant,  be  or  become  vacant  or  unoccu- 
pied and  so  remain  for  ten  days,  and  continuing  until  the 
time  of  the  fire. 

Section  1941—46  is  referred  to  in  sees,  1941—64,  1941—65. 

See  sections  4202m,  1941—64. 

1941_47  (1898;  ch.  525,  1907.) 

Risks  not  assumed;  lightning  covered;  other  insurance. 

Section  1941 — 47.  This  company  shall  not  be  liable  for  loss 
caused,  directly  or  indirectly,  by  invasion,  commotion,  riot,  in- 
surrection, civil  war,  or  military  or  usurped  power,  or  by  order 
of  any  civil  authority;  or  by  theft;  or  by  neglect  of  the  in- 
sured to  use  all  reasonable  means  to  save  and  preserve  the 
property  at  and  after  a  fire  or  when  the  property  is  endangered 
by  fire  in  the  neighboring  premises ;  or  (unless  fire  ensue,  and, 
in  that  event,  for  the  damage  by  fire  only)  by  explosion  of  any 
kind.  This  policy  shall  cover  any  direct  loss  or  damage  caused 
by  lightning  (meaning  thereby  the  commonly  accepted  use  of 
the  term  lightning,  and  in  no  case  to  include  loss  or  damage  by 
cyclone,  tornado,  or  windstorm)  not  exceeding  the  sum  in- 
sured, nor  the  interest  of  the  insured  in  the  property,  and  sub- 
ject in  all  other  respects  to  the  terms  and  conditions  of  this 
policy.  If  there  shall  be  any  other  insurance  on  said  property 
this  company  shall  be  liable  only  pro  rata  with  such  other  in- 
surance for  any  direct  loss  by  lightning  whether  such  other 
insurance  be  against  direct  loss  by  lightning  or  not. 

Section  1941 — 47  is  referred  to  in  sees.  1941 — 64,  1941 — 65. 

1941—48 

Fallen  buildings. 

Section  1941 — 48.  If  a  building  or  any  part  thereof  fall 
except  as  the  result  of  fire,  all  insurance  by  this  policy  on 
such  building  or  its  contents  shall  immediately  cease. 

Section  1941 — 48  is  referred  to  in  sees.  1941 — 64,  1941 — 65. 

1941—49 

Exemption  from  liability. 

Section  1941 — 49.  This  company  shall  not  be  liable  for  loss 
to  accounts,  bills,  currency,  deeds,  evidences  of  debt,  money, 
notes  or  securities:  nor,  unless  liability  be  specifically  assumed 
^hereon  for  loss  to  awnings,  bullion,  casts,  curiosities,  drawings, 
dies,  implements,  jewels,  manuscripts,  medals,  models,  patterns, 
pictures,  scientific  apparatus,  signs,  store  or  office  furniture  or 
fixtures,  sculpture,  tools  or  property  held  in  storage  or  for  re- 
pairs j  nor,  beyond  the  actual  value  destroyed  by  fire,  for  losci 


1941—49  STANDARD  FiRfi  I^OLtCY.  78 

occasioned  by  ordinance  or  law  regulating  construction  or  re- 
pair of  buildings,  or  by  interruption  of  business,  manufacturing 
process  or  otherwise;  nor  for  any  greater  proportion  of  the 
value  of  plate  glass,  frescoes  and  decorations  than  that  which 
this  policy  shall  bear  to  the  whole  insurance  on  the  building 
described. 

Section  1941 — 49  is  referred  to  in  sec.  1941 — 64,  1941 — 65. 

1941—50 

Warranty. 

Section  1941 — 50.  If  an  application,  survey,  plan  or  de- 
scription of  property  be  referred  to  in  this  policy  it  shall  be  a 
part  of  this  contract  and  a  warranty  by  the  insured. 

See  sections  4202m,  1941—64. 

1941—51 

Renewal  of  policy. 

Section  1941 — 51.  This  policy,  may,  by  a  renewal,  be  con- 
tinued under  the  original  stipulations,  in  consideration  of  pre- 
mium for  the  renewed  term,  provided  that  any  increase  of 
hazard  must  be  made  known  to  this  company  at  the  time  of 
renewal  or  this  policy  shall  be  void. 

Section  1941—51  is  referred  to  in  sees.  1941—64,  1941—65. 

1941—52 

Cancellation;  unearned  premium. 

Section  1941 — 52.  This  policy  shall  be  cancelled  at  any 
time  at  the  request  of  the  insured  or  by  the  company  by  giv- 
ing five  days'  notice  of  such  cancellation,  unless  during  a  time 
in  which  the  hazard  shall  be  increased  solely  by  the  act  of  God 
and  in  such  case  and  during  such  time  of  such  increase  of 
hazard  the  company  shall  not  cancel  this  policy,  except  upon 
sixty  days'  notice  of  such  cancellation,  without  the  consent  of 
the  assured.  If  this  policy  be  cancelled  as  hereinbefore  pro- 
vided or  become  void  or  cease,  the  premium  having  been  act- 
ually paid,  the  unearned  portion  shall  be  returned  on  sur- 
render of  this  policy  or  last  renewal,  this  company  retaining 
the  customary  short  rate ;  except  that  when  this  policy  is  can- 
celled by  this  company  by  giving  notice  it  shall  retain  only 
the  pro  rata  premium. 

Section  1941 — 52  is  referred  to  in  sees.  1941 — 64,  1941 — 65. 

1941—53 

Rights  of  mortgagee. 

Section  1941 — 53.  If  with  the  consent  of  this  company,  an 
interest  under  the  policy  shall  exist  in  favor  of  a  mortgagee 
or  of  any  person  or  corporation  having  an  interest  in  the  sub- 
ject of  insurance,  other  than  the  interest  of  the  insured  as 


70  STANDARD  FiRE  POLICY.  1941—53 

1  escribed  herein,   the   conditions  hereinbfore   contained  shall 
apply  in  the  manner  expressed  in  such  provisions  and  condi- 
.tions  of  insurance  relating  to  such  interest  as  shall  be  written 
upon,  attached  or  appended  hereto. 
Section  1941—53  is  referred  to  in  sees.  1941—64,  1941—65. 

1941—54 

Removal  of  property. 

Section  1941 — 54.  If  property  covered  by  this  policy  be 
no  endangered  by  fire  as  to  require  removal  to  a  place  of 
safety  and  be  so  removed,  that  part  of  this  policy  in  excess  of 
its  proportion  of  any  loss  and  of  the  value  of  property  re- 
maining in  the  original  location  shall,  for  the  ensuing  five  days 
only,  cover  the  property  so  removed  in  the  new  location;  if 
removed  to  more  than  one  location  such  excess  of  this  policy 
shall  cover  therein  for  such  five  days  in  the  proportion  that 
the  value  in  any  one  such  new  location  bears  to  the  value  in 
all  such  new  locations;  but  this  company  shall  not,  in  any  case 
of  removal,  whether  to  one  or  more  locations,  be  liable  beyond 
the  proportions  that  the  amount  hereby  insured  shall  bear  to 
the  total  insurance  on  the  whole  property  at  the  time  of  fire 
whether  the  same  cover  in  new  location  or  not. 

Section   1941—54  is  refeiTed  to  in  sec.  1941—64,  1941—65. 

1941—55 

Notice  and  proof  of  loss;  examination;  books;  etc. 

Section  1941 — 55.  If  fire  occur  the  insured  shall  give  im- 
mediate notice  of  any  loss  thereby  in  writing  to  ttiis  company, 
protect  the  property  from  further  damage,  forthwith  separate 
the  damaged  and  undamaged  personal  property,  put  it  in  the 
best  possible  order,  make  a  complete  inventory  of  the  same 
stating  the  quantity  and  cost  of  each  article  and  the  amount 
claimed  thereon;  and,  within  sixty  days  after  the  fire,  unless 
such  time  be  extended  by  agreement  with  the  company  through 
the  local  agent  or  any  other  authorized  agent  or  any  adjuster 
acting  for  such  company  concerning  such  loss,  shall  render  a 
statement  to  the  company,  signed  and  sworn  to  by  said  insured 
stating  the  knowledge  and  belief  of  the  insured  as  to  the  time 
and  origin  of  the  fire,  the  interest  of  the  insured  and  of  all 
others  in  the  property,  the  cash  value  of  each  item  thereof  and 
the  amount  of  loss  thereon,  all  incumbrances  thereon,  all  other 
insurance,  whether  valid  or  not,  covering  any  of  said  property 
and  a  copy  of  all  the  descriptions  and  schedules  in  all  policies, 
any  changes  in  the  title,  use,  occupation,  location,  possession 
or  exposures  of  said  property  since  the  issuing  of  this  policy, 
by  whom  and  for  what  purpose  any  building  herein  described 
and  the  several  parts  thereof  were  occupied  at  the  time  of  the 


1941—55  STANDARD  FIRE  ?OLlC^.  §D 

fire,  and  shall  furnish,  if  requried.  verified  plans  and  specifica- 
tions of  any  building,  fixtures  or  machinery  destroyed  or  dam- 
aged, and  shall  also,  if  required,  furnish  a  certificate  of  a 
magistrate  or  notary  public  residing  in  the  county  where  the 
insured  property  is  located  (not  interested  in  the  claim  as  a 
creditor  or  otherwise,  nor  related  to  the  insured)  stating  that 
he  has  examined  the  circumstances  and  believes  the  insured  has 
honestly  sustained  loss  to  the  amount  that  such  magistrate  or 
notary  public  shall  certify.  The  insured,  as  often  as  required, 
shall  exhibit  to  any  person  designated  by  this  company  all  that 
remains  of  any  property  herein  described,  and  submit  to  exam- 
inations, all  under  oath  by  any  person  named  by  this  company, 
and  subscribe  the  same ;  and,  as  often  as  required  shall  produce 
for  examination  all  books  of  account,  bills,  invoices  and  other 
vouchers,  or  certified  copies  thereof  if  originals  be  lost,  at  such 
reasonable  place  as  may  be  designated  by  this  company  or  its 
representative,  and  shall  permit  extracts  and  copies  thereof  to 
be  made. 

Section  1941—55  is  referred  to  in  sees.  1941—64,  1941—65. 

1941—56 

Appraisement  of  loss. 
Section  1941 — 66.  In  the  event  of  disagreement  in  the 
amount  of  loss  the  same  shall,  as  above  provided,  be  ascer- 
tained by  two  competent  and  disinterested  appraisers  who 
shall  be  residents  of  this  state  unless  otherwise  agreed  by  the 
parties  thereto;  the  insured  and  this  company  each  selecting 
one  within  thirty-five  days  after  the  mailing  of  proof  of  loss 
to  said  company,  as  herein  stated,  and  in  case  either  party  fail 
to  select  an  appraiser  within  such  time  the  other  appraiser  and 
the  umpire  selected,  as  herein  provided,  may  act  as  a  board  of 
appraisers  and  whatever  award  they  shall  find  shall  be  as 
binding  as  though  the  two  appraisers  had  been  chosen ;  and  the 
two  so  chosen  shall  first  select  a  competent  and  disinterested 
umpire,  provided  that  if  after  five  days  the  two  appraisers  can- 
not agree  on  such  an  umpire  the  presiding  judge  of  the  circuit 
court  of  the  county  wherein  the  loss  occurs  may  appoint  such 
an  umpire  upon  application  of  either  party  in  writing  by  giv- 
ing five  days'  notice  thereof  in  writing  to  the  other  party. 
Unless  within  thirty  days  after  proof  of  the  loss  has  been 
mailed  to  the  company,  either  party,  the  assured  or  the  com- 
pany, shall  have  notified  the  other  in  writing  that  such  party 
demands  an  appraisal,  and  such  right  of  an  appraisal  shall  be 
waived ;  the  appraisers  together  shall  then  estimate  and  ap- 
praise the  loss,  stating  separately  sound  value  and  damage  and, 
failing  to  agree,  shall  submit  their  differences  to  the  umpire  j 


81  STANDARD  F^IRE  FOLIC t.  1941— &6 

and  the   award   in  writing  of   any  two   shall  determine  the 
amount   of  such  loss;  the  parties  thereto  shall  pay  the  ap- 
praisers respectively,  selected  by  them  and  shall  bear  equally 
the  expenses  of  the  appraisal  and  umpire. 
Section  1941—56  is  reterred  to  in  sees.  1941—64,  1941—65. 

1941—57 

Waiver;  loss,  when  payable. 

Section  1941 — 57.  This  company  shall  not  be  held  to  have 
waived,  except  as  above  expressly  provided  for,  any  provision 
or  condition  of  this  policy  or  any  forfeiture  thereof  by  any  re- 
quirement, act  or  proceeding  on  its  part  relating  to  the  ap- 
praisal or  to  any  examination  herein  provided  for;  and  the  loss 
shall  become  payable  sixty  days  after  the  notice  and  proof  of 
the  loss  herein  required  have  been  received  by  this  company. 

Section  1941—57  is  referred  to  in  sees.  1941—64,  1941 — 65. 

1941—58 

Liability  if  other  insurance;  re-insurance. 

Section  1941 — 58.  This  company  shall  not  be  liable  under 
this  policy  for  a  greater  proportion  of  any  loss  on  the  described 
property  or  for  loss  by  and  expense  of  removal  from  premises 
endangered  by  fire  than  the  amount  hereby  insured  shall  bear 
to  the  whole  insurance,  whether  valid  or  not,  or  by  solvent  or 
insolvent  insurers  covering  such  property,  and  the  extent  of 
the  .application  of  the  insurance  under  this  policy  or  of  the 
contribution  to  be  made  by  this  company  in  case  of  loss  may 
be  provided  for  by  agreement  or  condition  written  hereon  or 
attached  or  appended  hereto.  Liability  for  re-insuranco  shall 
be  as  specifically  agreed  hereon. 

Section  1941 — 58  is  referred  to  in  sees.  1941 — 64,  1941 — 65. 

1941—59 

Subrogation. 

Section  1941 — 59.  If  this  company  shall  claim  that  the  fire 
was  caused  by  the  act  or  neglect  of  any  person  or  corporation 
private  or  municipal,  this  company  shall,  on  payment  of  the 
loss,  be  subrogated  to  the  extent  of  such  payment  to  all  right 
of  recovery  by  the  insured  for  the  loss  resulting  therefrom 
and  such  right  shall  be  assigned  to  this  company  by  the  insured 
on  receiving  such  payment. 

Section  1941 — 59  is  referred  to  in  sees.  1941 — 64,  1941 — 65. 

1941— eo 

Definitions. 
Section  1941 — 60.     Whenever  in  this  policy  the  word  *' in- 
sured" occurs  it  shall  be  held  to  include  the  legal  representa- 
tive of  the  insured,  and  whenever  the  word  ''loss"  occurs  it 
shall  be  deemed  the  equivalent  of  ''loss  or  damage." 

Section  1941—60  is  referred  to  in  sees.  1941—64,  1941—65. 
6— I,  L, 


1941—61  STANDARD  FiRE  POLICY.  82 

1941—61 

Other  conditions. 

Section  1941 — 61.  If  this  policy  be  made  by  a  mutual  or 
other  company  having  special  regulations  lawfully  applicable 
to  its  organization,  membership,  policies  or  contracts  of  insur- 
ance, such  regulations  shall  apply  to  and  form  a  part  of  this 
polic}^  as  the  same  may  be  written  or  printed  upon,  attached 
or  appended  hereto. 

Section  1941—61  is  referred  to  in  sees.   1941—64,  1941—65. 

1941—62 

Waiver;  agent's  knowledge. 

Section  1941 — 62.  This  policy  is  made  and  accepted  subject 
to  the  foregoing  stipulations  and  conditions,  together  with  such 
other  provisions,  agreements  or  conditions  as  may  Oe  indorsed 
hereon  or  added  hereto,  and  no  officer,  agent  or  other  repre- 
sentative of  this  company  shall  have  power  to  waive  any  pro- 
vision or  condition  of  this  policy  except  such  as  by  the  terms  of 
this  policy  may  be  the  subject  of  agreement  indorsed  hereon 
or  added  hereto,  and  as  to  such  provisions  and  conditions  no 
officer,  agent  or  representative  shall  have  such  power  or  be 
deemed  or  held  to  have  waived  such  provisions  or  conditions 
unless  such  waiver,  if  any,  shall  be  w^ritten  upon  or  attached 
hereto,  nor  shall  any  privilege  or  permission  affecting  the  in- 
surance under  this  policy  exist  or  be  claimed  by  the  insured 
unless  so  written  or  attached.  Up  to  the  time  of  the  delivery 
of  the  policy  to  assured,  in  all  transactions  relating  to  this 
policy  or  to  the  property  herein  insured,  between  the  assured, 
and  any  agent  of  the  company,  knowledge  of  the  agent  shall 
be  knowledge  of  the  company;  and  in  all  transactions  relating 
to  the  subject  of  insurance,  between  the  insured  and  any  agent 
of  the  company  after  loss,  knowledge  of  the  agent  shall  be 
knowledge  of  the  company. 

Tn  witness  whereof,  this  company  has  executed  and  attested 
these  presents  this day  of — — ,  19 — . 

Section  1941—62  is  referred  to  in  sees.  1941—64,  1941—65. 

1941—63 
Forms. 

Section  1941 — 63.     (Indorsements.)    " 

Assignment  of  Interest  hy  Insured. 

The  interest  of as  owner  of  property  covered  by 

this  policy  is  hereby  assigned  to subject  to  the  con- 
sent of  (name  of  company).  

Dated .  Signature  of  the  insured. 

Note — To  secure  mortgagees,  if  desired,  the  policy  should 
be  made  payable  on  its  face  to  such  mortgagee,  as  follows: 
Loss,  if  any,  payable  to  John  Doe,  mortgagee. 


83  STANDARD  FiRE   POLICY.  1941— 6S 


Consent  by  Company  to  Assignment  of  Interest. 

(name  of  company)  hereby  consents  that  the  interest  of 
as  owner  of  the  property  covered  by  this  policy  be 


assiofned  to 


Dated -.  Signature  for  company. 

Expires  . 

Property . 

A'mt  $ .     Premium  $ . 


No. . 

It  is  important  that  the  written  portions  of  all  policies  cover- 
ing the  same  property  read  exactly  alike.  If  they  do  not  they 
should  be  made  uniform  at  once. 

Section  1941—63  is  referred  to  in  sees.  1941—64,  1941 — 65. 

1941—64  (1898;  ch.  102,  1905;  eh.  525,  1907;  ch.  247,  1911,  in 
effect  June  5,  1911.) 
Standard  policy,  form  exclusive,  exceptions. 
Section  1941 — 64.  1.  No  fire  insurance  company,  corpora- 
tion or  association,  except  township  mutual  insurance  com- 
panies, their  officers  or  agents,  shall  make,  issue,  use  or  deliver 
for  use  any  fire  insurance  policy  on  property  in  tiiis  state,  other 
than  such  as  shall  conform  in  all  particulars  as  to  blanks,  size 
of  type,  context,  provisions,  agreements  and  conditions  with 
the  printed-  forms  of  contract  or  policy  so  filed  in  the  office  of 
the  commissioner  of  insurance  as  provided  for  in  sections 
1941—42  to  1941—63,  ^  *  *  and  no  other  or  different  pro- 
vision, agreement  condition  or  clause  shall  in  any  manner  be 
made  a  part  of  s»id  contract  or  policy,  or  be  indorsed  thereon 
or  delivered  therewith  except  as  follows,  to-wit: 

1941--64.  a.   (1898;  ch.  102,  1905;  ch.  525,  1907;  ch.  247,  1911, 
in  effect  June  5,  1911.) 
Other  matter  permitted. 
*     *     *     a.   {!)   The  name  of  the  company,  {2)  its  location 
or  place  of  business,    {3)  the  date  of  its  incorporation  or  or- 
ganization and  the  state  or  country  under  which  the  same  is 
organized,  (4)  the  amount  of  paid-up  capital  stock,  (5)  whether 
it  is  a  stock  or  mutual  company,  {6)  the  names  of  its  officers, 
(7)  the  number  and   {8)   date  of  the  policy,  and   {9)  if  it  be 
issued  through  a  manager  or  agent  of  the  company,  the  words 
"this  policy  shall  not  be  valid  until  countersigned  by  the  duly 

authorized  manager  or  agent  of  the  company  at ," 

may  be  printed  on  policies  issued  on  property  in  this  state. 


1&41 — 64  StAisrbARb  ^ire  PbLicY.  ,     §4 

1941_64.  2.   (1898;  ch.  102,  1905;  ch.  525,  1907;  ch.  247,  19r., 
in  effect  June  5,  1911.) 
Schedules;  conditions. 

2.  Printed  or  written  forms  of  description  and  specification 
or  schedules  of  the  property  covered  by  any  particular  policy, 
and  any  other  matter  necessary  to  clearly  express  all  the  facts 
and  conditions  of  insurance  on  any  particular  risk  (which 
facts  or  conditions  shall  in  no  case  be  inconsistent  with  or  a 
waiver  of  any  of  the  provisions  or  conditions  of  the  standard 
policy  herein  provided  for),  may  be  written  upon  or  attached 
or  appended  to  any  policy  issued  on  property  in  this  state. 

1941—64.  3.     (1898;  ch.  102,  1905;  ch.  525,  1907;  ch.  247,  1911, 
in  effect  June  5,  1911.) 
Other  provisions  required  by  law. 

3.  A  company,  corporation  or  association  organized  or  in- 
corporated under  and  in  pursuance  of  the  laws  of  this  state  or 
i'lsewhere,  if  entitled  to  do  business  in  this  state,  may,  with  the 
approval  of  the  commissioner  of  insurance,  if  the  same  is  not 
already  included  in  the  standard  form  as  provided  for  in  said 
sections,  print  on  its  policies  any  provision,  which  it  is  required 
by  law  to  insert  therein,  if  such  provisions  be  not  in  conflict 
with  the  laws  of  this  state  or  of  the  United  States,  or  of  the 
provisions  of  the  standard  form  provided  for  herein,  but  any 
such  provision  shall  be  printed  apart  from  the  other  provisions, 
agreements  or  conditions  of  the  policy,  and  in  type  not  smaller 
than  the  body  of  the  policy,  and  under  a  separate  title  as  fol- 
lows :  ' '  Provisions  required  by  law  to  be  stated  in  this  policy, ' ' 
and  be  a  part  of  said  policy. 

1941—64.  4.   (1898;  ch.  102,  1905;  ch.  525,  1907;' eh.  247,  1911, 
in  effect  June  5,  1911.) 
Agent's  name  and  place  of  business. 

4.  There  may  be  indorsed  on  the  outside  of  any  policy  herein 
provided  for  the  name,  with  the  word  ''agent"  or  ''agents" 
and  place  of  business  of  any  insurance  agent  or  agents,  either 
by  writing,  printing,  stamping  or  otherwise. 

1941-^4.  5.   (1898;  ch.  102,  1905;  525,  1907;  ch.  247,  1911,  in 
effect  June  5,  1911.) 
Joint  policies,  several  policies. 

5.  Where  two  or  more  companies  (each  having  previously 
complied  with  the  law  of  this  state)  unite  to  issue  a  joint  policy 
there  may  be  expressed  (a)  in  the  heading  of  such  policy,  the 


85  FIRE  POLICIES.  1941r— 64.   5. 

fact  of  the  severalty  of  the  contract;  *  *  *  (6)  the  pro- 
portion of  premium  to  be  paid  to  each  company,  *  *  * 
(c)  the  proportion  of  liability  which  each  company  agrees  to 
assume,  and  (d)  in  the  printed  conditions  of  such  policy  the 
necessary  change  may  be  made  from  the  singular  to  the  plural 
number,  when  reference  is  had  to  the  companies  issuing  such 
policy. 
Section  1941— ;64  is  referred  to  in  sec.  1941 — 65. 

1941—65 

.  Violation  of  law;  bound  by  contract. 

i  Section  1941 — 65.  Any  insurance  company,  its  officers  or 
agents  or  either  of  them,  violating  any  provision  of  sections 
1941 — 42  to  1941 — 64,  inclusive,  by  making,  issuing,  delivering 
or  offering  to  deliver  any  policy  of  fire  insurance  on  property 
in  this  state,  except  as  hereinbefore  provided,  shall  be  guilty 
of  a  misdemeanor  and  upon  complaint  made  by  the  commis- 
sioner of  insurance  or  any  citizen  of  this  state,  shall,  upon  con- 
viction thereof,  be  punished  by  a  fine  of  not  less  than  fifty 
dollars  nor  more  than  one  hundred  dollars  nor  more  than  two 
hundred  and  fifty  dollars  for  each  subsequent  offense ;  but  any 
policy  so  made,  issued  and  delivered  shall,  nevertheless,  be 
binding  upon  the  company  issuing  the  same,  and  such  company 
shall  thereafter  be  disqualified  from  doing  any  insurance  busi- 
ness in  this  state. 

I  GENERAL  PROVISIONS,  FIRE  INSURANCE. 

1942 

L        Policies;  contents. 

t  Section  1942.  Every  insurance  corporation  doing  business 
on  the  mutual  plan  shall  contain  in  its  name,  which  shall  be 
upon  the  first  page  in  every  policy  or  renewal  receipt,  the  woni 
mutual,  and  if  doing  business  as  a  cash  stock  corporation  it 
shall,  upon  the  face  of  its  policies,  express  that  it  is  a  stock 
policy. 

1943 

Realty  insurance ;  valued  policy. 

Section  1943.  AVhenever  any  policy  of  insurance  shall  be 
written  to  insure  real  property  and  the  property  insured  shall 
be  wholly  destroyed,  without  criminal  fault  on  the  part  of  the 
insured  or  his  assigns,  the  amount  of  the  insurance  written  in 
such  policy  shall  be  taken  conclusively  to  be  the  true  value  of 
the  property  when  insured  and  the  true  amount  of  loss  and 
measure  of  damages  when  destroyed. 

Section  1943  is  referred  to  in  sections  1941a — 3,  1941 — 8. 


1943a  FIRE  POLICIES.  86, 

1943a 

Policy  clauses ;  cash  value,'  measure  of ;  co-insurance ;  sepa- 
rate rates;  forfeiture. 

Sectio\^  1943a.  No  fire  insurance  company  doing  business 
in  this  state  shall  issue  any  policy  containing  any  provision 
limiting  the  amount  to  be  paid  in  case  of  loss  below  the  actual 
cash  value  of  the  property,  if  within  the  amount  of  the  insur-  ' 
ance  for  which  premium  is  paid,  and  no  such  company  shall 
require  the  use  of  any  so-called  co-insurance  clanse  or  rider  to 
be  attached  or  made  a  part  of  any  policy  except  at  the  option 
of  the  insured,  and  every  such  company  shall  give  to  every  ap- 
plicant for  insurance  the  rate  of  premium  demanded  with  and 
without  such  clause  or  rider.  The  commissioner  of  insurance, 
upon  evidence  furnished  to  him  that  any  such  company  has 
failed  when  requested  to  furnish  any  applicant  for  insurance 
such  separate  rates,  shall  forthwith  revoke  the  license  of  said 
company  and  all  its  agents.  If  any  company  which  violates 
any  provision  of  this  section  is  incorporated  under  the  laws  of 
this  state  such  violation  shall  be  cause  for  forfeiting  its  charter, 
and  the  attorney-general  shall  institute  proceedings  to  have 
such  forfeiture  declared. 

1943b 

Rates;   combination;   local  boards   of   underwriters;   for- 
feiture. 

Section  1943b.  No  fire,  fire  and  marine,  or  marine,  and  in- 
land insurance  company  or  association,  its  agent  or  representa- 
tive doing  business  in  this  state,  shall,  either  directly  or  in- 
directly, enter  into  any  contract,  agreement,  combination  or 
compact  with  any  other  such  conij)any  or  companies  or  its  or 
their  agents  or  representatives  for  the  purpose  of  establishing 
and  maintaining  a  fixed  schedule  or  schedules  of  rates;  pro- 
vided, that  in  cities  and  villages  it  shall  be  lawful  for  the  local 
board  of  underwriters  incorporated  under  the  statutes  of  this 
state,  and  in  case  of  the  non-existence  of  such  board  therein 
^or  an  association  of  the  local  agents  in  such  city  or  village  to, 
from  time  to  time,  establish  and  maintain  rates  therein,  and  for 
tlicmi  and  such  companies  repre^^ented  by  them  to  enter  into  any 
lawful  contract  or  agreement  to  so  establish  and  maintain  rates 
so  made;  all  such  schedules  shall  at  all  reasonable  times  be 
open  to  the  inspection  of  the  insured  or  any  person  applying 
for  insurance.  The  commissioner  of  insurance  shall  revoke  the 
license  of  every  such  company  which  violates  any  provision  of 
this  section,  and  shall  report  such  violation  to  the  attorney  gen- 
eral,  who  shall   prosecute   the  same  and   every   such  company 


87  APPLICATION.  1943b 

shall,  for  each  and  every  such  violation,  forfeit  live  hiindroci 
dollars. 

1944 

Premiuan  notes;  contents;  defenses. 
Section  1944.  Every  promissory  note  or  obligation,  except 
ordinary  notes  received  in  payment  of  premiums  for  policies 
issued  on  the  cash  basis,  taken  by  any  fire  insurance  corpora- 
tion doing  business  in  this  state  or  by  any  agent  thereof,  for 
which  the  consideration  in  whole  or  in  part  shall  be  the  issuing 
of  a  policy  of  insurance,  shall  have  written  in  the  body  thereof 
the  words  "given  in  payment  for  a  policy  of  insurance  and  if 
transferred  either  before  or  after  maturity  shall  remain  subject 
to  all  defenses."  Such  notes  or  obligations  shall  be  subject  to 
all  defenses  the  maker  thereof  may  or  could  have  against  the 
original  promisee  in  whosesoever  hands  the  same  may  be ;  and  if 
any  such  corporation  or  agent  thereof  shall  take  any  such  note 
or  obligation  not  so  written  such  corporation  shall  forfeit  its 
license  to  do  business  in  this  state. 

1945 

Premium  notes ;  insolvency,  effect. 

Section  1945.  Every  note  or  obligation  given  in  payment 
of  any  premium  for  any  policy  of  insurance  issued  by  any 
fire  insurance  corporation  shall,  if  before  the  expiration  of  such 
policy  such  corporation  shall  become  insolvent  or  bankrupt 
become  utterly  void  in  whosesoever  hands  the  same  may  be 
so  far  as  the  premium  for  which  the  same  was  given  was  un- 
earned at  the  time  of  such  insolvency  or  bankruptcy.^ 

1945a  (1898;  ch.  51,  1905.) 

Application  attached  to  policy. 

Section  1945a.  All  fire  insurance  corporations,  except  mu- 
tual fire  insurance  corporations  organized  under  the  laws  of 
this  state,  shall,  upon  the  issue  or  renewal  of  any  policy,  at- 
tach to  such  policy  or  indorse  thereon  a  tnie  copy  of  any  ap- 
plication or  representations  of  the  assured,  w^iich  by  the  terms 
of  such  policy  are  made  a  part  thereof  or  of  the  contract  of 
insurance  or  referred  to  therein;  or  which  may  in  any  manner 
affect  the  validity  of  such  policy.  Tlie  omission  so  to  do  shall 
not  render  the  policy  invalid,  but,  if  any  corporation  neglect 
to  comply  with  the  requirements  of  this  secti(m,  it  shall  for- 
ever be  precluded  from  pleading,  alleging  or  proving  such  ap- 
plication or  representations  or  any  part  thereof,  or  V'o  falsity 
thereof  or  any  part  thereof  in  any  action  upon  such  policy; 


1945b  FIRE  COMPANIES.  88 

and  iiie  plaintiff  in  any  such  action  shall  not  be  required,  in 
order  to  recover,  either  to  plead  or  prove  such  application  or 
representations,  but  may  do  so  at  his  option. 

1945b 

Foreign,  fire,  life  or  accident  company;  limitation  of  acr- 
tion  on  assessment. 
Section  1945b.  No  action  shall  be  brought  in  any  court  of 
this  state  by  the  receiver,  trustee  or  other  officer  or  person 
exercising  the  functions  of  a  receiver  to  recover  any  assess- 
ment made  by  a  foreign  mutual  fire,  life  or  accident  insurance 
company,  for  any  money  due  any  such  company  as  and  "for 
dues  or  fees  on  account  of  insurance  therein,  whether  such  as- 
sessment be  made  by  the  company  or  the  receiver,  trustee  or 
other  officer  or  person  unless  such  action  be  begun  within  six 
months  after  such  assessment  is  made  or  the  liability,  to  pay 
such  dues  or  fees  accrued. 

1945c  (Ch.  106,  1909,  in  effect  May  12,  1909.) 

Fire  companies,   domestic,  risks;   sprinkler  leakage;   ex- 
^  plosion ;  steam  boiler  excepted. 

Section  1945c.  Any  corporation  organized  under  the  laws 
of  this  state  for  the  insurance  of  property  against  loss  or 
damage  by  fire  and  lightning  may  also  insure  the  same  classes 
of  property,  subject  to  the  limitations  prescribed  by  the  law 
under  which  it  was  organized  or  is  governed  as  to  the  amount 
of  any  single  risk,  against  loss  or  damage  by  lightning,  hail, 
windv:itorms,  tornadoes,  cyclones,  hurricanes,  leakage  of  sprink- 
lers and  sprinkler  systems,  installed  or  maintained  for  the 
purpose  of  protection  against  fire  and  by  explosions,  whether 
fire  ensues  or  not ;  provided  the  same  shall  be  clearly  expressed 
in  the  policy,  but  nothing  herein  shall  be  construed  to  empower 
such  companies  to  insure  against  loss  or  damage  to  persons  or 
property  resulting  from  explosions  of  steam  boilers. 

1945d 

Magistrate's  certificate  of  loss;  who  may  make. 

Section  1945d.  Whenever  any  policy  insuring  property 
against  damage  or  loss  from  any  cause  shall  require  the  in- 
sured, in  case  of  loss  or  damage  to  the  insured  property,  to 
furnL*«'h  the  insurer  a  certificate  or  statement  of  a  magistrate 
or  notary  public  concerning  the  property  insured  or  the  loss 
or  damage  thereto,  it  shall  be  a  compliance  \\dth  any  such  pro- 
vision to  furnish  a  certificate  or  statement,  conforming  to  the 
requirements  of  the  policy  in  other  respects,  of  any  magistrate 


89  FIRE  COMPANIES.  id45d 

or  notary  public  residing  in  the  county  where  the  loss  or  dam- 
age occurred,  who  shall  not  be  interested  in  the  claim  or  related 
to  the  insured. 

1945f" 

Directors ;  classification ;  term  of  office. 

Section  1945f.  Any  fire  insurance  company  organized  un- 
der any  special  law  of  this  state  may  classify  its  directors  so 
that  a  proportionate  number  of  them  shall  hold  for  one,  two  and 
three  years  respectively. 

See  sections  lb. 81,  lOVbJi. 

1945g 

Lloyds  insurance;  resident  agent;  local  office. 

Section  1945g.  Persons  and  corporations  of  this  state  may 
unite  with  themselves  or  with  persons  and  corporations  of  ad- 
joining states  in  making  and  entering  into  agreements  to  in- 
demnify each  other  for  any  losses  arising  from  fire  to  their 
manufacturing  plants  or  the  stock,  manufactured  or  unmanu- 
factured, on  hand,  on  such  terms,  in  such  manner,  in  such  pro- 
portions and  amounts  and  during  such  time  as  may  be  agreed 
upon  between  them  in  writing;  and  for  the  purpose  of  the  con- 
venient transaction  of  such  business  and  the  speedy  payment 
of  losses  incurred  therein  they  may  appoint  an  agent  or  attor- 
ney to  act  for  them  or  each  of  them  in  the  said  business,  and 
may  pay  in  and  accumulate  a  fund  for  the  payment  of  such 
losses  and  of  the  expenses  of  the  business.  Before  making 
any  such  agreement  they  shall  appoint,  by  writing  filed  with 
the  commissioner  of  insurance,  an  agent  or  attorney,  resident 
of  this  state,  on  whom  all  process  or  papers  concerning  or 
growing  out  of  the  said  business  may  be  served,  and  service  on 
such  agent  shall  be  equivalent  to  personal  service  on  all  such 
persons  and  corporations.  They  shall  at  all  times  maintain 
an  office  in  some  city  of  over  ten  thousand  inhabitants  in  this 
state,  and  all  such  business  shall  be  transacted  at  such  office. 
Each  person  and  corporation  so  making  or  signing  any  sucli 
contract  shall  be  severally  but  not  jointly  liable  thereon  for 
their  proportionate  amount  of  the  indemnity  in  such  contract 
stated,  and  shall  not  be  liable  otherwise  or  for  any  greater  sum. 

1945h 

Liabilities  of  directors  of  mutual  fire  companies. 

Section  1945h.  The  directors  of  every  mutual  fire  insurance 
corporation  shall  be  personally  liable  for  all  dues  owing  and 
assessments  made  and   policies  written  upon  property  in  any 


1945h  MISREPRESENTATION.  96 

other  state,  territory  or  foreign  country  in  which  the  corpora- 
tion has  not  been  duly  admitted  to  do  business  and  Avherein 
such  policies  have  been  issued  in  violation  of  the  law  of  such 
state,  territory  or  foreign  country;  provided,  this  section  shall 
not  apply  to  church  mutual  insurance  companies. 

19451 

Assessments  by  foreign  oampany. 

Section  1945i.  The  secretary  or  some  other  officer  of  every 
foreign  mutual  fire  insurance  company  licensed  to  do  business 
in  this  state  shall,  immediately  after  making  an  assessment  upon 
any  of  its  members  herein,  notify  the  commissioner  of  insur- 
ance thereof  and  accompany  such  notice  with  a  statement  of 
the  condition  of  the  company,  setting  forth  therein  in  particu- 
lar the  facts  showing  the  necessity  for  each  assessment  made. 
No  such  company  shall  make  or  increase  any  such  assessment 
because  of  its  inability  to  collect  assessments  from  its  members 
in  states  or  territories  in  which  it  was  not  authorized  to  do  busi- 
ness and  wherein  its  policies  were  written  in  violation  of  the 
laws  thereof;  provided,  that  this  section  shall  not  apply  to' 
church  mutual  insurance  companies. 

1946 

Agents  in  Milwaukee  to  report ;  forfeiture. 

Section  1946.  Every  person  who  shall,  in  the  city  of  Mil- 
waukee, as  agent  or  otherwise  for  any  fire  insurance  corpora- 
tion, effect  or  agree  fo  effect  any  insurance  shall,  on  or  before 
the  tenth  day  of  February  in  each  year  and  whenever  he  shall 
change  his  place  of  doing  business  in  said  city,  report  in  writ- 
ing to  the  treasurer  of  the  fire  department  of  such  city  the 
street ,  and  number  of  his  place  of  doing  business,  specifying 
for  what  corporation  he  acts  as  agent;  and  for  every  default 
in  any  of  these  particulars  such  person  shall  forfeit  one  hun- 
dred dollars. 

Section  1946  is  referred  to  in  1946c. 

MISREPRESENTATION. 

1946a 

Representation  as  to  assets. 

Section  1946a.  It  shall  not  be  lawful  for  any  company, 
corporation,  association,  individual  or  individuals,  now  trans- 
acting or  which  may  transact  the  business  of  insurance  within 
this  state,  to  state  or  represent  by  advertisement  in  any  form 


91  Misrepresentation.  Id46d 

iiny  funds  as  assets  to  be  in  its,  his  or  their  possession  and  not 
so  actually  posses^sed  and  available  for  the  payment  of  losses  and 
held  for  the  protection  of.  the  holders  of  policies  of  insurance; 
and  such  statement  shall  also  show  the  amount  available  and 
held  in  the  United  States. 

Section  194Ga  is  referred  to  in  194Ge. 

1946b 

MisrcpresGntation;  capital;  surplus. 

Section  1946b.  Every  advertisement  or  public  announce- 
ment and  every  sign,  circular  or  card  hereafter  made  or  issued 
l\v  any  company,  corporation,  association,  individual  or  indi- 
viduals, or  any  officer,  agent,  manager  or  legal  representative 
thereof,  which  is  or  may  be  authorized  to  transact  the  business 
of  insurance  within  this  state  shall  purport  to  make  known 
the  financial  standing  of  any  such  company,  corporation,  as- 
sociation, individual  or  individuals  shall  exhibit  the  capital  ac- 
tually paid  in  in  cash  and  the  amount  of  its,  his  or  their  net 
surplus  of  assets  over  all  liabilities  actually  available  for  the 
payment  of  losses  and  held  for  the  protection  of  holders  of  their 
policies  of  insurance,  including  in  sUch  liabilities  capital  actually 
l)aid  in  and  the  fund  reserved  for  re-insurance  of  outstanding 
risks,  and  shall  correspond  with  the  verified  statement  made  by 
the  company,  corporation,  association,  individual  or  individuals 
making  or  issuing  the  same  to  the  insurance  department  of  this 
state  next  preceding  the  making  or  issuing  of  the  same ;  but  in 
policies  or  renewals  thereof  there  may  be  stated  a  single  item 
showing  the  amount  of  authorized  capital. 

Section  1946b  is  referred  to  in  1946e. 

1946c 

Misrepresentation;  risks;  evidence;  penalty. 

Section  1946c.  It  shall  be  unlawful  for  any  company,  asso- 
ciation or  corporation  transacting  the  business  of  insurance  in 
this  state  to  publish  or  cause  to  be  published,  or  permit  to  be 
published  by  any  of  its  agents  or  with  the  knowledge  or  con- 
sent of  any  of  them,  any  statement  which  shall  represent  said 
company,  association  or  corporation '  as  writing  risks  different 
in  nature  or  class  from  those  actually  written  by  it,  or  shall, 
represent  said  company,  association  or  corporation  as  confining 
its  business  to  a  particular  class  of  risks  when  it  is  in  reality 
writing  risks  of  another  class.  The  distribution  of  any  cards 
or  other  documents  by  any  such  agent  containing  such  decep- 
tive representations,  or  the  existence  of  any  sign  exposed  to 
public  view  containing  them  and  belonging  to  any  such  com- 


i946c  MISREPRESENTATION.  92 

pany,  association  or  corporation  or  any  agent  thereof,  or  the 
existence  of  any  advertisement  or  card  or  statement  containing 
any  such  deceptive  representations  in  any  newspaper  published 
in  any  town,  village  or  city  in  which  said  company,  association 
or  corporation  has  an  agent  transacting  business  or  soliciting 
insurance  shall  be  prima  facie  evidence  of  the  violation  of  this 
section  by  said  company,  association  or  corporation.  In  addi- 
tion to  the  penalty  provided  in  section  1946,  which  is  hereby 
made  applicable  to  this  section,  the  commissioner  of  insurance 
shall  revoke  the  license  of  any  company,  association  or  corpora- 
tion which  shall  be  convicted  of  violating  this  section,  and  the 
licenses  of  all  its  agents  for  the  transaction  of  the  business  of 
insurance  within  this  state,  immediately  upon  the  filing  of  a 
certified  copy  of  the  record  of  such  conviction  with  said  com- 
missioner. Whenever  there  shall  be  filed  with  him  an  affidavit 
containing  a  statement  of  facts  constituting  prima  facie  evi- 
dence of  the  violation  of  this  section  by  any  such  company,  as- 
sociation or  corporation  the  commissioner  shall  immediately 
notify  it  of  such  filing  and  require  such  company,  association 
or  corporation  to  show  cause  before  him,  within  thirty  days  from 
such  notification  why  its  license  should  not  be  revoked ;  and 
if  such  company,  association  or  corporation  shall  fail  within  the 
time  specified  to  establish  to  the  satisfaction  of  said  commis- 
sioner that  it  has  not  violated  this  section  in  the  manner  al- 
leged in  such  affidavit  he  shall  immediately  revoke  the  license 
of  said  company,  association  or  corporation  and  the  license  of 
all  agents  for  the  transaction  of  the  business  of  insurance  with- 
in this  state.  No  license  to  transact  such  business  within  this 
state  shall  be  granted  to  any  company,  association  or  corpora- 
tion or  to  any  agent  thereof  for  said  company,  association  or 
corporation  for  one  year  from  the  date  when  its  license  was  so 
revoked. 

Section  1946c  is  referred  to  in  1946e. 

1946d  • 

Cancellation  of  policy ;  return  of  premium ;  short  rate. 

Section  1946d.  Any  company,  association  or  corporation 
transacting  the  business  of  insuring  property  against  loss  or 
damage  from  any  cause  shall,  except  as  is  otherwise  provided 
by  any  provision  applicable  to  any  class  of  insurance  com- 
panies, cancel  any  policy  at  any  time,  by  request  of  the. party 
insured  or  his  assignee,  and  return  to  said  party  the  amount 
of  premium  paid,  less  the  customary  short-rate  premium  for 
the  expired  portion  of  the  full  term  the  policy  has  been  issued. 


93  MISREPRESENTATION.  1946e 

1946e 

Penalties  for  misrepresentations. 

Section  1946e.  Any  violation  of  any  provision  of  sections 
1946a,  1946b,  or  1946c  shall,  for  the  first  offense,  subject  the 
company,  corporation,  association  or  individual  so  violating  to 
a  penalty  of  five  hundred  dollars,  to  be  sued  for  and  recovered 
in  the  name  of  the  state,  with  costs  and  expenses  of  such  pros- 
ecution, by  the  district  attorney  of  any  county  in  which  the 
company,  corporation,  association,  individual  or  individuals 
shall  be  located  or  may  transact  business  or  in  any  county 
where  such  offense  may  be  committed ;  and  such  penalty,  when 
recovered,  shall  be  paid  into  the  treasury  of  such  county  for  the 
benefit  of  the  school  fund.  Every  subsequent  violation  shall 
subject  the  company,  corporation,  association,  individual  or  in- 
dividuals guilty  of  such  violation  to  a  penalty  of  not  less  than 
one  thousand  dollars,  which  shall  be  sued  for,  recovered  and 
disposed  of  in  like  manner  as  for  the  first  offense. 

1946f  (Ch.  126,  1907;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Misrepresentation ;  estimates ;  nature  of  policies ;  other  com- 
panies; penalty. 

Section  1946f.  No  life  insurance  corporation  doing  busi- 
ness in  this  state,  and  no  officer,  director,  or  agent  thereof, 
shall  issue  or  circulate,  or  cause  or  permit  to  be  issued  or  cir- 
culated, any  estimate,  illustration,  circular  or  statement  of 
any  sort  misrepresenting  the  terms  of  any  policy  issued  by  it, 
or  advantages  promised  thereby,  or  the  dividends  or  share  of 
surplus  to  be  received  therefrom,  or  shall  use  any  title  of  any 
policy  or  class  of  policies,  misrepresenting  the  true  nature 
thereof,  and  no  life  insurance  company,  its  officers,  directors  or 
agents,  shall  issue  or  circulate  or  cause  or  permit  to  be  issued 
or  circulated,  any  written  circular  or  statement  of  any  sort, 
wilfully  misrepresenting  any  other  company,  the  nature  or 
terms  of  its  policy  or  policies,  its  premium  charge  or  dividends 
allowed  or  returned  by  such  other  company. 

Any  officer,  director  or  agent  aforesaid,  found  guilty  of 
violating  any  of  the  provisions  of  this  *  *  «=  section,  shall 
be  punished  by  a  fine  of  not  less  than  twenty-five  dollars  nor 
more  than  three  hundred  dollars,  or  by  imprisonment  in  the 
county  jail  for  a  term  not  exceeding  six  months. 


i 
1946g  STATE  FIRE  MARSHAL.  94  j 


STATE  FIRE  MARSHAL. 

1946g  (Ch.  228,  1907.) 

Appointment;  confirmation;  removal. 

Section  1946g.  The  governor  is  hereby  authorized  and  em- 
powered to  appoint  within  thirty  days  after  this  act  shall  take 
effect,  and  every  six  years  thereafter,  between  the  fifteenth 
day  of  January  and  the  first  day  of  February,  by  and  with  the 
advice  and  consent  of  the  senate  and  also  within  thirty  days 
after  the  occurrence  of  a  vacancy  in  the  office,  a  suitable  per- 
son ^vho  shall  be  a  citizen  of  this  state,  as  state  fire  marshal, 
who  shall  hold  the  office  until  his  successor  is  appointed  and 
qualified,  the  title  of  which  office  shall  be  state  fire  marshal. 
Such  officer  shall  keep  his  office  in  the  capitol,  in  the  city  of 
Madison,  and  may  be  removed  for  cause  at  any  time  by  the 
governor. 

Section  1946g  is  referred  to  in  sees.  1946i,  1946n,  1946o,  1946q. 

1946h  (Ch.  228,  1907;  ch.  211,  1909,  in  effect  May  29,  1909.) 
Assistants;  deputies;  qualifications. 

Section  1946h.  The  state  fire  marshal  is  hereby  empowered 
and  required  to  appoint  one  chief  assistant  fire  marshal  and 
tAVO  deputy  fire  marshals  to  be  designated  as  first  and  second 
deputies.  The  duties  of  the  said  chief  assistant  and  deputies 
shall  be  to  assist  the  state  fire  marshal.  In  the  event  of  a 
vacancy  in  the  office  of  the  state  fire  marshal,  or  during]:  the 
absence  or  disability  of  that  officer,  the  chief  assistant  shall 
perform  the  duties  of  the  office. 

Section  1946h  is  referred  to  in  sees.  1946g,  1946i,  1946n,  1946o,  1946q. 

1946i  (Ch.  228,  1907.) 

Duties ;  investigation  of  fires. 
Section  1946i.  1.  The  state  fire  marshal  and  the  chief  of 
the  fire  department  of  every  city  or  village  in  which  a  fire 
department  is  established,  and  the  mayor  of  every  incorporated 
city,  and  the  president  of  the  village  board  of  every  incorpo- 
rated village  in  which  no  fire  department  exists,  and  the  town 
clerk  of  every  organized  township  within  the  limits  of  any  or- 
ganized city  or  village  shall  investigate  or  cause  to  be  in- 
vestigated the  cause,  origin  and  circumstances  of  every  fire 
occurring  in  such  city,  village  or  town  by  which  property  has 
been  destroyed  or  damaged  when  the  damage  exceeds  twenty- 
five  dollars,  except  that  all  fires  of  unknown  origin  shall  be 
reported,  and  shall  especially  make  investigation  as  to  whether 
mch.  fire  was  the  result  pf  carelessness,  accident  or  design. 


95  STATE  FIRE  MARSHAL.  19461 

Investigation  within  two  days. 
2.  Such  investigation  shall  be  bef^nn  within  two  days  of  the 
occurrence  of  such  fire,  and  the  state  fire  marshal  shall  have  the 
right  to  supervise  and  direct  such  investigation  whenever  he 
deems  it  expedient  or  necessary. 

1946  i  (3)     (Ch.  228,  1D07,  and  eh.  663.  1911,  in  effect  July  21, 
1911.) 
Notice  to  state  fire  marshal;  statement. 

8.  The  officer  making  investigation  of  fires  occurring  in  cities, 
villages  and  towns  shall  forthwith  notify  said  state  fire  mar- 
shal and  shall  wnthin  one  week  of  the  occurrence  of  the  fire, 
furnish  to  the  said  state  fire  marshal  a  written  statement  of 
all  the  facts  relating  to  the  cause  and  origin  of  the  fire,  and 
such  further  information  as  may  be  called  for  by  the  blanks 
furnished  by  said  state  fire  marshal.  The  state  fire  marshal 
shall  keep  in  his  office  a  record  of  all  fires  occurring  in  the  state, 
together  with  all  facts^  statistics  and  circumstances  including 
the  origin  of  the  fires,  w^hich  may  be  determined  by  the  in- 
vestigations provided  \)y  *  *  *  sections  19i6g  to  1946 q,  in- 
clusive; such  statistics  shall  be  at  all  times  open  to  the  public 
inspection. 

Section  19461  is  referred  to  in  sees.  1946g,  1946m,  1946n,  1946o,  1946q. 

1946J  (Ch.  228,  1907:  ch.  211,  1909,  in  effect  May  29,  1909.) 
Arson;  prosecution;  testimony;  arrest;  record. 

Section  1946j.  1.  The  state  fire  marshal  shall,  when  in  his 
opinion  further  investigation  is  necessary,  take  or  cause  to  be 
taken  the  testimony  on  oath  of  all  persons  supposed  to  be 
cognizant  of  any  facts  or  to  have  any  means  of  knowledge 
in  relation  to  the  matter  as  to  which  an  examination  is  herein 
required  to  be  made,  and  shall  cause  the  same  to  be  reduced 
to  writing ;  and  if  he  shall  be  of  the  opinion  that  there  is  evi- 
dence sufficient  to  charge  any  person  with  the  crime  of  arson, 
he  shall  cause  such  person  to  be  arrested  and  charged  with 
such  offense,  and  shall  furnish  to  the  proper  prosecuting  at- 
torney all  such  evidence,  together  with  the  copy  of  all  names 
of  witnesses  and  all  the  information  obtained  by  him,  includ- 
ing a  copy  of  all  pertinent  and  material  testimony  taken  in 
the  case ;  and  shall  keep  a  record  of  the  proceedings  and  prog- 
ress made  in  all  such  prosecutions  for  arson  and  the  result  of 
all  cases  finally  disposed  of. 

2.  It  shall  be  the  duty  of  the  attorney  in  the  state  fire  mar- 
shal's department  to  assist  in  performing  the  duties  and  work 
of  said  department,  to  assist  in  the  taking  of  testimony  and 
cross  examinatiou  of  witnesses  in  cases  under  investigation  by 


1946J  STATE  FIRE  MARSHAL.  96 

said  department,  and  to  aid  and  assist  district  attorneys  in  the 
prosecution  of  all  arson  cases  in  all  the  courts  of  the  state. 
Section  1946j  is  referred  to  in  sees.  1946g,  1946i,  1946n,  1946o,  1946q. 

1946k  (Ch.  228,  1907.) 

Powers;  witnesses;  fees. 
Section  1946k.  1.  The  state  fire  marshal,  chief  assistant 
marshal,  and  deputy  state  fire  marshals  shall  each  have  the 
power  in  any  county  of  the  state  of  Wisconsin,  to  summon  and 
compel  the  attendance  of  witnesses  before  them,  or  either  of 
them,  to  testify  in  relation  to  any  matter  which  is  by  the  pro- 
visions of  this  act,  a  subject  of  inquiry  and  investigation,  and 
may  require  the  production  of  any  book,  paper  or  document 
deemed  pertinent  thereto  by  them  or  either  of  them.  Such 
witness  shall  be  subpoenaed  in  the  same  manner  as  witnesses 
in  circuit  court.  They  shall  receive  the  same  compensation, 
which  shall  be  paid  out  of  the  fire  marshal  fund,  upon  vouchers 
signed  by  the  state  fire  marshal,  chief  assistant  fire  marshal,  or 
deputy  fire  marshal,  before  whom  any  witnesses  shall  have 
attended,  and  such  officer  shall  at  the  close  of  the  investigation 
wherein  such  witness  was  subpoenaed  certify  to  the  attendance 
and  mileage  of  such  witness,  which  certificate  shall  be  filed  in 
the  office  of  the  state  fire  marshal.  All  investigations  held  by 
or  under  the  direction  of  said  state  fire  marshal,  or  his  sub- 
ordinates, may,  in  his  discretion,  be  private,  and  persons  other 
than  those  required  to  be  present  by  the  provisions  of  this  act, 
may  be  excluded  from  the  place  where  such  investigation  is 
held,  and  witnesses  may  be  kept  separate  and  apart  from  each 
other  and  not  allowed  to  communicate  with  each  other  until 
they  have  been  examined. 

1946k  (2,  3)   (Ch.  228,  1907;  ch.  211,  1909,  in  effect  May  29,  I 
1909.) 
Oatlis;  perjury. 

2.  Said  state  fire  marshal,  chief  assistant  fire  marshal,  dep-  I 
uty  state  fire  marshals,  and  assistant  state  fire  marshals  are 
hereby  authorized  and  empowered  to  administer  oaths  and  af- 
firmations to  any  person  appearing  as  witnesses  before  them; 
and  false  swearing  in  any  matter  or  proceeding  aforesaid  shall 
be  deemed  perjury  and  shall  be  punished  as  such. 

Contempt;  penalty. 

3.  Any  witness  who  refuses  to  be  sworn,  or  who  refuses  to  1 
testify,  or  who  disobeys  any  lawful  order  of  said  state  fire 
marshal,  chief  assistant  fire  marshal,  deputy  state  fire  marshals, 
or  assigts-wt  state  ^re  ineir^hals,  in  relation  to  said  investigation, 


97  STATE   FIRE   MARSHAL.  1946k 

or  who  fails  or  refuses  to  produce  any  paper,  book,  or  docu- 
ment touching  any  matter  under  examination,  or  who  is  guilty 
of  any  contemptuous  conduct,  after  being  summoned  to  appear 
before  them,  or  either  of  them,  to  give  testimonj^  in  relation  to 
any  matter  or  subject  under  examination  or  investigation  as 
aforesaid,  may  be  summarily  punished  by  the  state  fire  mar- 
shal, chief  assistant  fire  marshal,  deputy  state  fire  marshals,  or 
assistant  state  fire  marshals  as  for  contempt  by  a  fine  in  a  sum 
not  exceeding  one  hundred  dollars  or  be  committed  to  the 
county  jail  until  such  time  as  such  persons  may  be  willing  to 
comply  with  any  reasonable  order  made  by  the  said  state  fire 
marshal,  chief  assistant  fire  marshal,  deputy  state  fire  marshals, 
or  assistant  state  fire  marshals  as  provided  in  this  act,  and  sub- 
ject to  the  provisions  of  section  3577  of  the  statutes     *     *     *, 

1946k  (Ch.  228,  1907.) 

View  of  premises  after  fire. 

4.  Said  state  fire  marshal  and  his  subordinates,  or  either 
of  them,  shall  have  the  authority  at  all  reasonable  hours  in 
performance  of  the  duties  imposed  by  the  provisions  of  this  act, 
to  enter  upon  and  examine  any  building  or  premises  where  any 
fire  has  occurred,  and  other  buildings  or  premises  adjoining 
or  near  the  same. 

Section  1946k  is  referred  to  in  sees.  1946g,  1946i,  1946n,  1946o,  1946q. 

1946  1  (Ch.  228,  1907.) 
View  of  building. 
Section  1946  1.     1.  The  state  fire  marshal,  his  chief  assist 
ant  and  deputies,  upon  complaint  of  ^ny  person,  or  without 
any  complaint  previously  entered,   shall  have   a  right   at  all 
reasonable  hours,  for  the  purpose  of  examination,  to  enter  into 
and  upon  all  buildings  and  premises  within  their  jurisdiction. 

Dangerous  premises;  order. 
2.  Whenever  any  of  said  officers  shall  find  any  building  or 
other  structure,  which  for  want  of  repair,  or  by  reason  of  age 
or  dilapidated  condition,  or  for  any  other  cause  is  especially 
liable  to  fire,  and  which  is  so  situated  as  to  endanger  other 
buildings  and  property,  and  whenever  any  such  officers  shall 
find  in  any  building,  or  upon  any  premises,  any  combustible  or 
explosive  material,  or  inflammable  conditions,  dangerous  to 
the  safety  of  said  buildings  or  premises,  they  shall  have  power 
to  make  reasonable  orders  for  the  repair  or  removal  of  the 
same,  and  such  order  shall  be  forthwith  complied  with  by  the 
owner  or  occupant  of  said  premises  or  building. 
7—1.  U 


1946  1  STATE  FIRE   MARSHAL.  98 

Penalty  for  disobeying  reasonable  order. 

3.  Any  owner  or  occupant  of  buildings  or  premises  failing 
to  comply  with  any  reasonable  order  of  the  authorities,  above 
specified,  shall  be  punished  by  a  fine  of  not  less  than  ten  dol- 
lars nor  more  than  fifty  dollars  for  each  day's  neglect,  in  any 
action  to  be  brought  by  any  of  the  officers  above  referred  to  in 
any  municipal  or  justice  court  in  the  county  where  such  owner 
or  occupant  is  resident. 
Section  1946  1  is  referred  to  in  1946g,  1946i,  1946m,  1946n,  1946o,  1946q. 

1946m  (Ch.  228,  1907;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Officer  neglecting  to  comply  with  law;  penalty. 
Section  1946m.  Any  officer  referred  to  in  section  19461, 
*  #  #  who  neglects  to  comply  with  any  of  the  requirements 
of  this  act  shall  upon  conviction  be  punished  by  a  fine  of  not 
less  than  twenty-five  dollars  nor  more  than  two  hundred  dol- 
lars for  each  neglect  or  violation. 

1946n  (Ch.  228,  1907;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Salaries;  officers'  fees. 
Section  1946n.  1.  The  state  fire  marshal  shall  receive  an 
annual  salary  of  three  thousand  dollars,  the  chief  assistant  fire 
marshal  shall  receive  an  annual  salary  of  two  thousand  five 
hundred  dollars,  the  first  deputy  marshal  one  thousand  eight 
hundred  dollars,  and  the  second  deputy  marshal  one  thousand 
five  hundred  dollars.  All  officers  who  shall  perform  any  serv-1 
ice  at  the  request  of  any  such  state  fire  marshal,  chief  assistant 
fire  marshal,  or  deputj^fire  marshal,  shall  receive  the  same  fees 
as  officers  in  justice  courts,  and  such  fees  shall  be  paid  out  of 
the  fire  marshal  fund  in  the  same  manner  as  witnesses  testify- 
ing under     *     *     *     sections  1946g  to  1946q,  inclusive. 


1946n(2)  (Ch.  228,  1907;  ch.  211,  1909,  in  effect  May  29,  1909.)' 
Clerks;  assistants;  attorney-at-law ;  expenses. 
2.  Said  state  fire  marshal  shall  employ  clerks  and  assistants, 
at  least  one  of  whom  shall  be  an  attorney-at-law,  and  incur 
such  other  expense  as  may  be  necessary  in  the  performance  of 
the  duties  of  the  office,  including  necessary  traveling  expenses, 
not  to  exceed,  including  salaries,  such  sum  as  may  be  paid  to 
the  state  treasury  in  the  manner  hereinafter  provided. 


99  STATE  FIRE  MARSHAL.  1946n  (3) 

1946n(3)    (Ch.  228,  1907;  ch.  390,  1909,  in  effect  June  15,  1909; 
ch.  66S,  1911,  in  effect  July  21,  1911.) 
Tax  on  fire  companies;  town  mutuals  excepted;  expenses 
limited. 

3.  For  the  purpose  of  maintaining  the  department  of  state 
fire  marshal  and  paying  all  the  expenses  incident  thereto, 
every  fire  insurance  company  doing  business  in  the  state  of 
Wisconsin,  except  town  mutual  insurance  companies  hereto- 
fore or  hereafter  organized  under  the  provisions  of  section 
1927,     *     *     *     shall  pay   to  the   commissioner  of  insurance 

*  *     *     on   or  before   the  first   day  of  February,   annually 

*  *  *  in  addition  to  the  taxes  now  required  by  law  to  be 
paid  by  such  company,  three-eighths  of  one  per  cent,  on  the 
gross  premium  and  assessment  receipts  of  such  companies  on 
all  business  done  in  Wisconsin  in  the  year  next  preceding,  as 
shown  by  their  annual  statements  under  oath  to  the  insurance 
department.  The  commissioner  of  insurance  shall  pay  over 
the  moneys  thus  collected  to  the  state  treasurer.  The  money 
so  received  into  the  treasury  shall  be  set  aside  as  a  special  fund 
for  the  maintenance  of  such  office  of  state  fire  marshal  and  the 
expenses  incident  thereto.  The  state  shall  not  be  liable  in  any 
manner  for  the  salary  of  said  fire  marshal,  his  deputies,  clerks, 
assistants,  employes  or  for  the  maintenance  of  the  office  of  fire 
aiarshal  or  any  expenses  incident  thereto,  and  the  same  shall 
be  payable  only  from  the  special  fund  provided  for  in  jthis 
subsection.  i    i    M  *  -*  [^ 

1946n  (4,  5)  (Ch.  228,  1907.) 
Omission  of  tax. 

4.  Whenever  at  any  time  there  shall  accumulate  in  the  special 
fund  a  surplus  sufficient  to  maintain  the  department  of  the 
state  fire  marshal  for  the  period  of  one  year,  then  in  the  dis- 
cretion of  the  state  fire  marshal,  the  foregoing  special  tax  for 
such  year  may  be  omitted. 

Expense  accounts  and  vouchers. 

5.  The  state  fire  marshal  shall  keep  on  file  in  his  office  an 
itemized  statement  of  all  expenses  incurred  by  his  department 
and  shall  appro^^e  all  vouchers  issued  therefor,  before  the  same 
are  submitted  to  the  secretary  of  state  for  payment,  which  said 
vouchers  shall  be  allowed  and  paid  in  the  same  manner  as  other 
claims  against  the  state. 

Section  1946n  is  referred  to  in  1946g,  1946i,  1946o,  1946q. 


19460  STATE   FIRE  MARSHAL.  100 

19460  (Ch.  228,  1907;  ch.  663,  1911,  in  effect  July  21,  1911.) 
State  fire  marshal  not  to  engage  in  other  business. 

Section  1946o.  The  state  tire  marshal  shall  not  engage  in 
any  other  business,  and  he  or  one  of  his  chief  subordinates 
shall  at  all  times  be  in  the  office  of  the  fire  marshal  ready  for 
such  duties  as  are  required  by  *  *  *  sections  1946g  to 
1946 q,  iivclusive. 

Section  1946o  is  referred  to  in  1946g,  1946i,  1946n,  1946q. 

1946p   (Ch.  228,  1907;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Annual  report  to  governor. 

Section  1946p.  The  fire  marshal  shall  submit  annually  as 
early  as  consistent  with  full  and  accurate  preparation,  and  not 
later  than  the  fifteenth  day  of  February,  a  detailed  report  ol 
his  official  action  to  the  governor. 

Section  1946p  is  referred  to  in  1946g,  1946i,  1946n,  1946o,  1946q. 

1946q  (Ch.  228,  1907.) 

Fees  to  municipal  officers  for  reporting  fires. 

Section  1946q.  1.  There  shall  be  paid  to  the  chiefs  of  fire 
departments,  and  to  mayors  of  cities,  who  do  not  receive  to 
exceed  fifty  dollars  annually  as  compensation  for  their  services 
as  such  chiefs  and  mayors,  and  to  presidents  of  the  village 
boards,  and  to  the  township  clerk  of  every  organized  township, 
who  are  by  *  *  ^^  sections  1946g  to  1946q,  inclusive,  required  to 
report  fires  to  the  state  fire  marshal,  the  sum  of  two  dollars  for 
each  fire  reported  to  the  satisfaction  of  the  state  fire  marshal, 
and  in  addition  thereto,  mileage  at  the  rate  of  ten  cents  per  mile 
for  each  mile  traveled  to  and  from  the  place  of  the  fire.  Said 
allowance  shall  be  paid  by  the  state  fire  marshal  at  the  close  of 
each  fiscal  year  out  of  any  funds  appropriated  as  heretofore 
provided  for  the  use  of  the  office  of  said  state  fire  marshal. 

Salaried  chiefs  and  mayors  excepted. 

2.  All  chiefs  of  departments  who  receive  a  stated  salary  and 
devote  their  entire  time  to  the  duties  of  chief  of  the  depart- 
ment,  and  those  mayors  of  cities  who  receive  a  stated  salary 
exceeding  fifty  dollars,  and  such  officer,  shall  be  precluded 
from  receiving  any  extra  allowance  for  the  report  herein  men- 
tioned. 

Section  1946q  is  referred  to  in  1946g,   1946i,   1946n,  1946o. 

LIFE  INSURANCE  COMPANIES. 

1946x  (Ch.  637,  1907.) 

Definitions,  life  companies. 
Section  1946x.     Unless  the  context  of  any  statute  or  law 
relating  to  life  insurance  indicates  otherwise,  the  following 


lOi  LIFE  COMPANIES.  I946x 

words  and  phrases  shall  be  understood  in  the  sense  herein  set 
forth  and  defined: 

Amount  at  risk. 

3.  The  "amount  at  risk,"  in  any  policy  year,  is  the  differ- 
ence  between  the  sum  insured  in  such  policy  year  and  the 
terminal  reserve  for  such  policy  year. 

Beneficiary. 

2.  ''Beneficiary"  is  the  person  in  whose . favor  a  policy  is 
written.  t  ih*i\/        ,'*','; 

Company.  ;      ,'\  >    rr'-o^'',  ^ 

3.  "Company,"  includes  all  corporation^', 'asso'eiatioW,;^a3^^ 
nerships  or  individuals  engaged  as  principals  in  the  business 
of  life  insurance,  except  fraternal  or  beneficiary  corporations, 
societies,  orders  or  associations  for  the  relief  of  members  or 
beneficiaries,  orders  or  associations  for  the  relief  of  members  on 
the  mutual  or  assessment  plan. 

Deposit. 

4.  "Deposit,"  is  the  terminal  reserve  on  a  policy  discounted 
to  the  beginning  of  the  policy  year  at  the  rate  of  interest  as- 
sumed. 

Domestic  company. 

5.  "Domestic  company,"  is  any  company  organized  or  in- 
corporated under  the  laws  of  this  state. 

1946x  (Ch.  120,  1909,  in  effect  May  13,  1909.) 
Expense  charge. 

6.  The  "expense  charge,"  for  any  policy  year  is  the  excess 
of  the  stipulated  premium  for  such  policy  year  and  the  terminal 
reserve  of  the  preceding  policy  year  over  the  sum  of  the  mor- 
tality charges  and  deposit  for  such  policy  year. 

1946x  (Ch.  637,  1907.) 
Foreign  company. 

7.  "Foreign  company,"  is  any  company  not  organized  or 
incorporated  under  the  laws  of  this  state. 

Insured. 

8.  "Insured,"  is  the  person  upon  whose  life  the  contract 
of  insurance  is  written. 

Mortality  charge. 

9.  "Mortality  charge,"  is  the  provision  made  in  the  policy 
at  the  beginning  of  the  policy  year  for  the  mortality  on  ae- 


1946X  Llt^E   COMPANIES.  102 

count  of  such  policy  year,  according  to  the  expense  charges 
assumed,  the  table  of  mortality  adopted  and  the  rate  of  inter- 
est assumed. 

Policy. 

10.  ' 'Policy,"  is  the  contract  issued  by  the  company  to  the 
insured. 

Policy  anniversary. 

11.  "Policy  anniversary,"  is  any  anniversary  of  the  date 
pf  the  p6}i€y.^,-i  •.  i 

.  jc  ,;  Policy  j^aar.  /    „  . 

:  :12.  '-'Policy  year,"  is  the  year  beginning  with  the  date  of 

the  policy  or  any  anniversary  thereof. 

Premium. 

13.  "Premium,"  is  the  payment  stipulated  in  the  policy  to 
be  made  of  the  insured  to  the  company  during  any  one  policy 
year. 

Reserve. 

14.  The  "reserve,"  at  any  time  within  the  policy  year  is 
the  deposit  for  such  year  improved  at  the  assumed  rate  of  in- 
terest to  such  time  within  the  policy  year  together  with  the 
proportional  unused  part  of  the  mortality  charge  for  such  year. 

Sum  insured. 

15.  The  "sum  insured,"  under  a  policy  in  any  policy  year 
is  the  value  of  the  guaranteed  payments  and  benefits  stipulated 
to  be  made  or  granted  if  it  should  mature  within  such  policy 
year. 

Terminal  reserve. 

16.  The  "terminal  reserve,"  is  the  reserve  at  the  end  of  the 
policy  year,  and  is  the  sum  sufficient,  with  the  premiums  com- 
ing due,  to  provide  for  the  future  expense  and  mortality 
charges,  and  mature  the  policy  according  to  its  terms,  all  com- 
puted upon  the  expense  charges  assumed,  the  table  of  mortal- 
ity, adopted  and  the  rate  of  interest  assumed. 

DOMESTIC  LIFE  COMPANIES. 

1947  (Ch.  640,  1907.) 

Organization;  incorporators. 

Section  1947.  1.  Any  number  of  residents  of  this  state  not 
less  than  nine,  may  form  a  corporation  either  with  or  without 


103  DOMESTIC   LIFE   COMPANIES.  1947 

capital  stock  for  the  purpose  of  granting  insurance  upon  the 
lives  of  persons. 

Contents  of  articles. 

2.  Such  persons  shall  make,  sign  and  file  in  the  office  of  the 
commissioner  of  insurance  articles  of  organization  stating: 

(a)  That  they  associate  for  the  purpose  of  forming  a  cor- 
poration to  transact  the  business  of  insuring  lives,  stating  the 
nature  and  kind  thereof ; 

(b)  The  name  of  the  corporation  and  the  place  where  the 
principal  office  for  the  transaction  of  business  shall  be  located; 

(c)  The  capital  stock,  if  any,  the  number  of  shares  thereof 
and  the  amount  of  each  share; 

(d)  The  designation  of  the  general  officers,  and  the  number 
of  directors,  v^hich  shall  not  be  less  than  seven ; 

(e)  The  mode  and  manner  of  electing  directors,  filling  va- 
cancies in  their  number,  and  their  terms  of  office ; 

(f)  The  period  for  the  commencement  and  termination  of 
their  fiscal  year ; 

(g)  Such  other  provisions  or  articles  not  inconsistent  v^ith 
law  as  they  may  deem  proper  to  be  inserted  therein  for  the 
interests  of  such  corporation  or  the  accomplishment  of  the  pur- 
poses thereof,  or  to  define  the  manner  in  which  the  corporate 
powers  granted  by  law  shall  be  exercised. 

1947(3)   (Ch.*39,  1909,  in  effect  Apr.  15,  1909.) 

Life  companies;  conditions  precedent  to  doing  business; 
risks,  minimum  number;  maximum  single;  special 
guaranty  fund;  capital  stock;  fee. 

3.  No  such  corporation  shall  transact  any  business  of  insur- 
ance, until  all  the  following  conditions  shall  be  complied  with : 

a.  If  organized  without  capital  stock  at  least  two  hundred 
persons  shall  have  subscribed  for  not  less  than  one  thousand 
dollars  of  insurance  each  and  passed  a  prescribed  medical  ex- 
amination and  shall  have  each  paid  one  full  annual  premium 
in  cash  upon  the  insurance  subscribed  for,  amounting  in  the 
aggregate  to  at  least  twenty  thousand  dollars.  Or,  in  lieu  of 
such  subscriptions  for  insurance,  the  company  shall  provide 
and  hold  a  special  guaranty  fund  of  at  least  twenty-five  thou- 
sand dollars  in  cash  or  invested  as  prescribed  in  section  1951 
of  the  statutes,  to  be  used  for  no  purpose  other  than  the  pay- 
ment of  death  losses,  until  the  largest  policy  in  force,  deduct- 
ing any  re-insurance  thereon  in  authorized  companies,  shall  not 
exceed  one-half  of  one  per  centum  of  the  total  insurance  in 
force,   deducting   all   such   re-insurance.     Such    company   may 


1947  (3)  DOMESTIC   LIFE   COMPANIES.  104 

borrow  a  sum  of  money  suffifcient  to  provide  the  amount  to  be 
held  as  a  special  guaranty  fund  and  an  additional  sum  to  de- 
fray the  expenses  of  organization  not  exceeding  ten  thousand 
dollars.  This  loan  shall  not  be  a  liability  and  the  agreement 
therefor  shall  so  provide  a^tid  that  the  principal  and  interest 
thereon  shall  only  be  repaid  from  assets  in  excess  of  all  lia- 
bilities. The  agreement  shall  also  provide  for  interest  at  a  rate 
not  exceeding  eight  per  centum  per  annum  and  after  the  re- 
lease of  the  special  guaranty  fund  the  principal  shall  be  repaid 
in  the  discretion  of  the  board  of  directors  or  at  such  times  as 
fixed  in  said  agreement.  Solicitation  of  subscriptions  for  in- 
surance under  this  section  may  be  made  by  agents  holding  a 
certificate  of  authority  to  be  issued  by  the  commissioner  of  in- 
surance. Every  application  for  such  insurance  shall  contain 
a  statement  that  the  issuance  of  the  policy  is  contingent  upon 
the  completion  of  the  organization  of  the  company. 

1947(3)  (b)   (Ch.  39,  1909,  in  effect  Apr.  15,  1909.) 

b.  If  organized  with  capital  stock,  until  a  capital  stock  of  at 
least  one  hundred  thousand  dollars  and  a  special  surplus  of  at 
least  twenty-five  thousand  dollars  shall  have  been  subscribed 
for  and  fully  paid  in  and  is  held  in  cash  or  invested  as  provided 
in  section  1951  of  the  statutes.  No  part  of  such  special  surplus 
shall  be  used  for  any  purpose  other  than  the  payment  of  death 
losses  while  the  largest  policy  in  force,  deducting  any  re-insur- 
ance thereon  in  authorized  companies,  shall  exceed  one-half  of 
one  per  centum  of  the  total  insurance  in  force,  deducting  all 
such  re-insurance. 

c.  There  shall  have  been  paid  to  the  insurance  commis- 
sioner in  case  of  a  corporation  organized  without  capital  stock, 
a  fee  of  one  hundred  dollars,  and  in  case  of  a  corporation  or- 
ganized with  capital  stock,  a  fee  equal  to  that  required  upon 
the  incorporation  of  other  corporations  under  chapter  86  of 
the  statutes,  but  no  such  fees  shall  be  required  to  be  paid  until 
at  the  time  of  the  issuing  of  the  certificate  of  authority  under 
subsection  d. 

d.  A  certificate  shall  have  been  made  and  filed  by  the  com- 
missioner of  insurance  in  his  office  setting  forth  that  such  cor- 
poration has  complied  with  all  the  provisions  of  the  law  and 
is  authorized  to  transact  the  business  of  life  insurance. 

General  corporation  laws  applicable;  filing  articles  and 
amendments;  fees;  first  meeting. 
4.  The  provisions  of  chapter  86  of  the  statutes  and  acts  amen- 
datory thereof  relating  to  corporations  under  the  general  law 


10.5  DOMESTIC  LIFE  COMPANIES.  1947  (3)  (b) 

shall  apply  to  all  corporations  mentioned  in  this  section  except 
so  far  as  the  same  are  inconsistent  with  the  provisions  of  the 
law  relating  to  life  insurance  companies.  The  manner  of  filing 
articles  of  incorporation  shall  be  the  same,  except  that  such 
articles  shall  be  filed  with  and  the  fees  paid  to  the  commissioner 
of  insurance.  The  manner  of  filing  amendments  and  the  fee 
upon  the  filing  of  any  amendment  shall  be  the  same,  except  that 
such  amendment  shall  be  filed  with  and  the  fees  paid  to  the 
commissioner  of  insurance.  In  case  the  corporation  is  formed 
without  capital  stock  the  signers  of  the  articles  shall  subject 
to  the  approval  of  the  commissioner  of  insurance  fix  the  time 
and  place  for  the  first  meeting  for  the  election  of  officers,  which 
time  and  place  shall  be  specified  in  the  certificate  of  authority 
to  do  business  heretofore  mentioned;  but  the  signers  of  such 
articles  shall  give  written  notice  thereof  by  mail  to  each  person 
subscribing  for  insurance  at  least  twenty  days  prior  to  the 
holding  of  such  meeting. 

Licenses  requisite  for  all  life  insurance ;  revocation  for  re- 
moval of  actions ;  service  of  process. 
5.  No  life  insurance  corporation  whatever  shall  do  any  busi- 
ness in  this  state,  nor  shall  any  person  act  as  agent  or  otherwise 
within  this  state  in  receiving  or  procuring  applications  for  life 
insurance  or  in  any  manner  aid  in  transacting  such  business  for 
any  such  corporation  until  it  shall  have  first  procured  a  license 
from  said  commissioner  authorizing  it  to  issue  policies  of  insur- 
ance in  this  state  and  have  paid  therefor  the  license  fee  required 
to  be  paid  by  section  1220,  provided,  that  in  case  any  such  life 
insurance  corporation  organized  under  the  laws  of  any  other 
state  or  country,  having  procured  license  as  herein  provided, 
shall  remove  or  make  application  to  remove  into  any  court  of 
the  United  States  any  action  or  proceeding  begun  in  any  court 
of  this  state  upon  a  claim  or  cause  of  action  arising  out  of  any 
business  or  transaction  done  in  this  state  it  shall  be  and  is 
hereby  made  the  imperative  duty  of  the  commissioner  to  revoke 
any  and  every  authority,  license  or  certificate  granted  to  such 
corporation  or  any  agent  thereof  to  transact  any  business  in 
this  state,  and  no  such  corporation  or  agent  thereof  shall  there- 
after transact  any  business  of  insurance  in  this  state,  till  again 
duly  authorized,  and  no  renewal,  license  or  certificate  of  author- 
ity shall  be  granted  to  such  corporation  for  three  years  after 
such  revocation;  and,  provided  further,  that  if  the  license  of 
any  such  corporation  shall  be  revoked  as  aforesaid,  the  attor- 
ney last  appointed  and  the  agent  larst  designated  as  acting  as 
such  for  it  shall  continue  attorney  and  agent  for  the  purpose  of 


1947  (3)  (b)        DOMESTIC   MUTUAL  LIFE   COMPANIES.  106 

serving  process  for  beginning  actions  upon  any  policy  or  lia- 
bility incurred  or  contracted  in  this  state,  while  it  transacted 
business  therein  so  long  as  any  such  liability  shall  exist. 

Section  1947  is  referred  to  in  1947a.  J 

1947a  (Ch.  104,  1903.) 

Stock  life  company  may  write  accident  and  health  insur- 
ance. 

Section  1947a.  Any  life  insurance  company,  incorporated 
under  section  1947  of  the  statutes  of  the  year  1898,  with  a  cap- 
ital stock  of  one  hundred  thousand  dollars  fully  paid  up,  may 
engage  in  the  business  of  personal,  accident  and  health  insur- 
ance, as  its  articles  of  association  shall  provide,  and  may  issue 
such  contracts  either  independently  of  or  in  conjunction  with 
its  life  or  endowment  policies.  Any  foreign  life  company  by 
complying  with  this  section,  may  also  be  licensed  to  transact 
such  business,  provided,  that  every  such  company  shall  first 
comply  with  all  the  laws  of  Wisconsin  relating  to  the  business 
of  personal,  accident  and  health  insurance.  All  acts  or  parts 
of  acts  in  conflict  with  the  provisions  of  this  act  are  hereby  re- 
pealed, i    :      i  I    j*^ 


DOMESTIC  MUTUAL  LIFE  COMPANIES. 

1947c  (Ch.  667,  1907.) 

Election:;  Votes;  cumulative  vote;  assignee;  qualification 
for  office;  vacancy. 

Section  1947c.  At  every  general  election  of  directors  or 
trustees  in  any  domestic  mutual  life  insurance  company,  whether 
incorporated  by  special  act  or  general  law  and  anything  to  the 
contrary  in  its  charter,  certificate,  articles  of  incorporation  or 
by-laws,  notwithstanding,  every  policy  holder  whose  insurance 
shall  be  in  force,  and  shall  have  been  in  force  for  at  least  one 
year  prior  thereto,  shall  be  entitled  to  one  vote  without  other 
qualification.  Every  policy  holder  entitled  to  vote  shall  have 
the  same  number  of  votes  irrespective  of  the  number  of  policies 
or  the  amount  of  insurance  held  by  him,  and  shall  have  one  vote 
for  each  director  to  be  elected,  and  may  cast  all  such  votes  for 
one  candidate  or  distribute  them  among  the  number  as  he  may 
elect.  Unless  a  policy  shall  have  been  assigned  more  than  six 
months  prior  to  the  election  by  an  assignment  absolute  on  its 
face  to  an  assignee  other  than  the  company  which  shall  have 
issued  the  policv,  the  person  upon  whose  application  the  policy 
shall  have  been  issued,  and  if  the  application  be  signed  by  more 


107  DOMESTIC   MUTUAL   LIFE  COMPANIES.  1947c 

than  one  person,  each  person  whose  life  is  insured  shall  be 
deemed  to  be  a  policy  holder  entitled  to  vote  as  aforesaid.  In 
case  the  policy  shall  have  been  assigned  as  aforesaid,  the  as- 
signee shall  be  deemed  to  be  a  policy  holder  entitled  to  vote, 
provided  his  signature,  either  attested  by  the  assignor  or  ac- 
knowledged in  like  manner  as  in  case  of  a  deed  to  be  recorded 
in  this  state,  shall  have  been  filed  at  the  home  office  of  the 
company.  Any  policy  holder  entitled  to  vote  at  any  election 
shall  be  qualified  to  fill  any  office  to  be  voted  for  at  any  such 
election.  Such  a  general  election  shall  be  held  at  intervals  of 
not  more  than  two  years.  At  each  such  election  not  less  than 
one-fourth  of  the  total  number  of  directors  provided  for  in  the 
charter  or  articles  shall  be  elected.  No  appointment  or  selec- 
tion of  a  director  to  fill  a  vacancy  other  than  when  made  by 
general  election  shall  extend  beyond  the  next  general  electiQn. 
Section  1947c  is  referred  to  in  1947J. 

1947d  (Ch.  667,  1907,) 

Lists  of  policy  holders;  arrangement;  how  furnished;  re- 
turns. 

t  Section  1947d.  Upon  written  request,  filed  with  the  com- 
pany, at  the  time  of  making  the  nomination,  and  within  thirty 
days  thereafter,  the  company  shall,  at  its  own  expense,  furnish 
to  the  policy  holders  making  nomination  of  an  independent 
ticket  a  full  and  complete  printed  list  of  the  names  and  last 
known  postoffice  addresses  of  all  policy  holders  whose  insurance 
was  in  force  twelve  months  prior  to  the  day  fixed  for  an  elec- 
tion. Such  list  shall  be  made  separately  for  each  state,  terri- 
tory and  county  and  shall  be  classified  by  postoffice  addresses 
and  the  names  shall  be  arranged  alphabetically.  The  company 
shall  mail  to  each  such  policy  holder  one  list,  and  no  more,  for 
each  state,  territory  or  county  requested  by  him  as  above  pro- 
vided. Such  list  shall  be  returned  to  the  home  office  of  the 
company  within  ten  days  after  such  election. 

Section  1947d  is  referred  to  in  1947j. 

See  sections  194 — 52. 

1947e  (Ch.  667,  1907.) 

Inspectors;  directors;  nominations  of  candidates. 

Section  1947e.  1.  At  least  three  months  prior  to  the  date 
of  any  general  election  of  directors  or  trustees  in  any  such 
company,  the  directors  or  trustees  thereof  shall  appoint  three 
qualified  voters,  who  are  not  directors  or  trustees,  as  inspectors 
of  election,  who  shall  be  paid  by  the  company,  and  such  di- 
rectors or  trustees  shall  suggest  the  name  of  a  person  as  can- 
didate for  every  vacancy  to  be  filled  at  the  ensuing  election,  and 
sjiall  fije  with  the  cqramissioner  of  insurance  a  certificate  there- 


^ 


1947e  DOMESTIC  MUTUAL  LIFE  COMPANIES.  108 

of,  giving  the  names,  occupations  and  addresses  of  the  in- 
spectors so  appointed,  and,  the  persons  whose  names  have  been 
so  suggested.  j 

Officers  not  to  assist  in  other  nomination  nor  use  money 
of  company;  penalty. 

2.  Any  officer,  trustee,  agent  or  employe  of  such  company 
who  shall  directly  or  indirectly  nominate  or  assist  or  encourage 
the  nomination  of  any  other  candidate  or  candidates  for  the  of- 
fice of  director  other  than  those  on  the  administration  ticket, 
or  who  shall  use  or  expend  any  of  the  property  or  funds  of  the 
company  in  promoting  the  election  of  any  nominee,  candidate 
or  person  except  as  directed  or  authorized  in  this  act,  shall  be 
guilty  of  a  misdemeanor. 

Policyholders'  nominations. 

3.  Any  one  hundred  or  more  qualified  voters  of  such  com- 
pany may  also  suggest  the  name  of  a  person  as  a  candidate  for 
one  or  more  of  the  vacancies  to  be  filled  at  any  such  ensuing 
election,  by  filing  with  the  commissioner  of  insurance,  and  with 
the  secretary  of  the  company  at  its  home  office,  not  more  than 
ninety  nor  less  than  sixty  days  prior  to  such  election,  a  certifi- 
cate signed  and  acknowledged  by  them,  giving  the  names,  oc- 
cupations, and  addresses  of  the  persons  so  suggested  as  candi- 
dates, together  with  a  written  statement  signed  by  said  candi- 
dates that  they  will  accept  such  office  if  elected. 

Vacancies  in  tickets. 

4.  In  case  of  the  death  or  resignation  or  incapacity  of  any 
person  so  suggested  as  a  candidate,  a  majority  of  the  board  of 
directors  or  trustees,  or  a  majority  of  the  persons  suggesting 
the  name  of  such  nominee,  may  suggest  the  name  of  another 
person  as  a  candidate  in  his  place,  by  filing  prior  to  the  day 
set  for  the  election  a  like  certificate  with  that  required  for  the 
original  nominations.  If  such  certificate  be  filed  more  than 
fifty  days  prior  to  the  election,  the  name  of  such  person  sug- 
gested as  a  candidate  shall  be  inserted  on  the  ballot  hereinafter 
mentioned.. 

Section  1947e  is  referred  to  in  1947J. 

1947f  (Ch.  667,  1907.) 

Ballots;   envelopes;   mailing;   other   questions;   duplicate 
ballot. 

Section  1947f.  In  case  any  nomination  other  than  the  di- 
rectors nomination  shall  be  made  the  company  shall  not  less 
than  forty-five  nor  more  than  seventy-five  days  froin  the  elec- 


109  DOMESTIC  MUTUAL  LIFE  COMPANIES.  1947£ 


tion  cause  to  be  mailed  in  a  sealed  and  postpaid  envelope,  to 
each  policy  holder  whose  name  shall  be  on  the  list  and  whose 
policy  shall  still  be  in  force  at  his  last  known  postoffice  ad- 
dress, a  suitable,  gummed  return  envelope  addressed  to  the 
home  office  of  the  company  and  marked  ''Ballot  for  directors," 
together  with  a  ballot  containing  in  two  columns  the  names  of 
candidates  nominated  as  hereinbefore  provided,  arranged  al- 
phabetically. One  column  designated,  "Directors  nominees" 
shall  contain  the  names  of  the  candidates  nominated  by  the 
directors  or  trustees.  Another  column  designated  "Indepen- 
dent nominees"  shall  contain  the  names  of  candidates  nom- 
inated by  the  policy  holders.  Where  any  other  question  is  to 
be  submitted  to  the  policy  holders  the  same  shall  be  voted  upon 
at  such  general  election  and  a  separate  ballot  shall  be  pro- 
vided and  mailed  with  the  other  ballots.  Such  separate  bal- 
lot shall  state  the  question  concisely  and  contain  space  for  vot- 
ing, thus: 


For, 


I      I  Against I     1 


( 


No  other  papers  or  written  or  printed  matter  shall  be  en- 
closed with  such  ballot  and  envelope  and  specimens  of  the 
ballot  return  envelope  and  sealed  envelope  shall  be  filed  with 
the  commissioner  of  insurance  before  being  so  mailed,  one  dupli- 
cate of  such  ballot  shall,  prior  to  the  election,  be  promptly 
furnished  by  mail  by  the  company  to  any  policy  holder  ap- 
plying therefor. 

Section  1947f  is  referred  to  in  1947J. 

1947g  (Ch.  58,  1909,  in  effect  April  22,  1909.)  :     ■ 

Elections;  ballot;  form. 

Section  1947g.  1.  The  provisions  contained  in  the  following 
instructions  to  policy  holders  shall  apply  to  and  govern  in  all 
such  elections.  All  votes  shall  be  by  ballot,  but  any  ballot  com- 
plying with  said  instructions  may  be  used.  No  ballot  shall  be 
received  or  counted  unless  prepared  and  voted  substantially  as 
herein  provided. 

2.  The  ballot  shall  be  in  the  following  form : 

Ballot  for  election  of  directors. 

For  (name  of  company,  home  office,  postoffice  address.) 

To  succeed  the  directors  whose  terms  expire  as  follows : 

Instructions  to  policy  holders. 

The  policy  holder  is  entitled  to  the  same  number  of  votes  ir- 
respective of  the  number  of  policies  and  amount  of  insurance 
held  by  him,  and  is  entitled  to  one  vote  for  each  of  the 


194'?g 


DOMESTIC  Mutual  life  companies. 


110 


directors  to  be  elected,  and  may  cast  all  such  votes 

for  one  candidate  or  distribute  them  among  the  number  as  he 
may  elect.  Votes  shall  be  indicated  by  a  numeral  placed  after 
the  name  of  the  person  voted  for  thus:  ''John  Doe,  Farmer, 
Madison,  Wisconsin,  (1.)" 

No  fractional  vote  will  be  recognized.  On  any  ballot  record- 
ing a  greater  number  than  authorized  only  the  first 

votes  will  be  recognized. 

The  ballot  shall  specify  the  number  of  at  least  one  policy 
held  by  the  policy  holder,  to  be  signed  by  him,  and  his  signature 
attested  by  a  subscribing  witness  and  shall  be  enclosed  in  a 
sealed  and  postpaid  envelope  marked  on  the  address  side,  "Bal- 
lot for  directors, ' '  addressed  to  said  company  at  its  home  office 
without  any  mark  or  designation  to  indicate  the  identity  of  the 
voter  mailing  the  same,  and  mailed  by  him  in  person  so  as  to  be 
delivered  before  four  P.  M.  on ,  190 . . 

The  ballot  prepared  in  like  manner,  without  being  postpaid, 
may  between  ten  A.  M.  and  four  P.  M.  in  said  day  be  voted  in 
person  by  the  policy  holder  at  the  home  office  of  the  company. 


Directors'  Nominations. 

1 

Independent  Nominations. 

(John  Doe, 
farmer, 

Madison,  Wis.) 

Vote 
here. 

(Richard  Roe, 
banker, 
Milwaukee,  Wis.) 

Vote 
here. 

Attested  by Signed  by   

P.  0.  address  

P.  0.  address Policy  No 

3.  Provided  that  this  section  shall  not  apply  to  any  election  of 
trustees  where  no  nomination  other  than  that  of  the  trustees' 
nomination  shall  have  been  made. 

4.  And  provided  further  that  no  vote  shall  be  valid  or  counted 
by  the  inspectors  if  the  same  shall  have  been  cast  for  any  person 
other  than  one  suggested  as  a  candidate  in  the  certificate  or  cer- 
tificates of  nomination  filed  with  the  commissioner  of  insurance. 

Section  1947g  is  referred  to  in  1947J. 

1947h  (Ch.  667,  1907.) 

Place  of  election;  polls  open  when. 
Section  1947h.     All  elections  of  the  company  shall  be  held 
at  its  home  office  and  the  polls  shall  be  open  from  ten  o'clock 


Ill  DOMESTIC   MUTUAL   LIFE   COMPANIES.  1947h 

in  the  forenoon  until  four  o'clock  in  the  afternoon  of  the  day 
of  the  election,  at  which  time  it  shall  be  closed  and  after  which 
time  no  ballot  shall  be  received. 
Section  1947h  is  referred  to  in  1947J. 

19471  (Ch.  667,  1907.) 

Receipt  of  ballots ;  delivery  to  inspectors. 

Section  19471.  1.  All  envelopes  received  at  the  home  office 
of  the  company  before  the  polls  are  closed  on  the  day  of  elec- 
tion marked  substantially  as  "ballot  for  directors  (or  trus- 
tees)" shall  be  preserved  intact  without  opening,  and  before 
the  polls  are  closed  shall  be  delivered  to  the  inspectors  of  elec- 
L  tion. 

W      Penalty  for  concealing  or  breaking. 

P  2.  Any  person  concealing  or  withholding,  or  participating  in 
the  concealment  or  withholding  from  the  inspectors  or  opening 
or  being  privy  to  the  opening  of  any  such  envelope  containing 
such  ballot,  except  as  authorized  by  law,  shall  be  guilty  of  a 
misdemeanor. 

Canvass;  preservation, 

3.  All  ballots  voted  and  received  by  mail  or  otherwis'e,  or 
delivered  by  the  policy  holder  in  person  at  the  office  of  the  com- 
pany, shall  be  received  by  the  inspectors  subject  to  verifica- 
tion and  ascertainment  of  the  validity  thereof,  and  of  the  quali- 
fication of  the  voter;  and,  immediately  upon  the  closing  of  the 
polls  the  inspectors  shall  proceed  to  open  the  envelopes  con- 
taining such  ballots  and  to  the  examination  thereof,  and  shall 

'  canvass  all  the  votes  lawfully  cast.  The  canvass  shall  proceed 
from  day  to  day,  and  the  inspectors  shall  verify  the  result  to 
the  company  as  soon  as  it  is  completed.  Any  nominee  at  such 
election  may  be  present  during  the  casting  and  canvass  of  the 
vote.  All  ballots  and  envelopes  received  by  said  inspectors 
shall  immediately  upon  completion  of  the  canvass  be  placed  in 

-sealed  packages  and  preserved  by  them  until  four  months  from 
the  date  of  the  election,  subject  to  the  order  of  any  court  having 
jurisdiction  of  any  proceeding  relating  thereto. 

Returns ;  tie  votes. 

4.  The  inspectors  shall  sign  and  file  with  the  secretary  of 
the  company  and  commissioner  of  insurance  a  certificate  of  the 
result  of  the  election  stating  the  names  of  all  persons  for  whom 
votes  have  been  cast  and  the  number  cast  for  each,  which  shall 
be  arranged  in  the  order  of  the  number  of  votes  cast  for  each 
person,  the  highest  being  placed  first,  the  next  highest  second 


1947i  DOMESTIC   MUTUAL   LIFE   COMPANIES.  112 

and  so  on,  the  lowest  being  placed  last.  In  case  two  or  more 
persons  shall  have  secured  the  same  number  of  votes  the  in- 
spectors shall  decide  by  lot  which  shall  stand  highest  upon 
such  list. 

Terms  of  elected  candidates. 

5,  The  person  or  persons  standing  highest  on  such  list  to  the 
number  of  directors  to  be  chosen  for  the  longest  term  at  such 
election  shall  be  elected  to  such  longest  term.  The  person  or 
persons  standing  next  highest  on  such  list,  to  the  number  of 
directors  to  be  chosen  for  the  next  longest  term,  at  such  elec- 
tion, shall  be  elected  to  such  next  longest  term  and  so  on  until 
the  number  of  directors  voted  for  at  such  election  has  been 
elected. 

Section  1947i  is  referred  to  in  1947J. 

1947J  (Ch.  667,  1907;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Validity  of  policy  not  admitted  by  mailing  ballot. 

Section  1947 j.  The  mailing  by  the  corporation  of  the  said 
ballot,  to  any  person  under  the  provisions  of  =*  *  *  sections  1947c 
to  1947k,  inclusive,  shall  not  be  construed  as  an  admission  by  the 
corporation  of  the  validity  of  any  policy,  or  of  the  fact  that  such 
person  was  a  policy  holder  of  said  company ;  and  no  such  mail- 
ing shall  be  competent  evidence  against  the  corporation  in  ariy 
action  or  proceeding,  in  which  the  question  of  the  validity  of 
any  policy  or  of  any  claim  under  it,  is  involved. 

1947k  (Ch.  667,  1907.) 

Directors'  meetings;  when  held;  non-attendance  forfeits 
office;  ineligibility. 

Section  1947k.  The  trustees  or  directors  of  every  domestic" 
mutual  life  insurance  company  aforesaid,  shall  hold  regular 
meetings  at  least  once  each  quarter  upon  such  dates  as  shall  be 
designated  in  its  charter  or  articles  of  incorporation,  or  by  the 
by-laws  of  said  company.  Any  trustee  who  shall  absent  him- 
self from  three  consecutive  meetings  shall  forfeit  his  office  and 
shall  not  be  eligible  to  election  again  for  a  period  of  six  months. 

Section  1947k  is  referred  to  in  1947J. 

19470  (Ch.  146,  1907.) 

Participating  and  non-participating  policies  not  to  be  is- 
sued by  same  domestic  mutual  company. 

Section  1947o.  1.  After  the  year  1907,  no  domestic  mutual 
life  insurance  company  and  no 'domestic  stock  life  insurance 
company  hereafter  issuing  or  professing  to  issue  any  partici- 
pating policies  shall  issue  any  policies  except  annuities,  which 
do  not,  by  their  terms,  give  to  the  holders  thereof  full  right 


in  Domestic  mutual  life  companies.  19470 

to  participate  in  the  aocumulations  of  such  company  as  pro- 
vided by  the  laws  of  this  state. 

Nor  after  1907,  within  state,  by  foreign  company. 

2.  After  the  year  1907,  no  foreign  mulaal  life  insurance  com- 
pany and  no  foreign  stock  life  insurance  company  issuing  or 
professing  to  issue,  after  such  date,  any  participating  policies, 
shall  issue  within  this  state  any  policies  except  annuities,  which 
do  not,  by  their  terms  give  to  the  holders  thereof  full  right  to 
participate  as  aforesaid. 

Nor  after  1912,  by  any  foreign  company  transacting  busi- 
ness in  state. 

3.  After  the  year  1912,  no  foreign  mutual  life  insurance  com- 
pany and  no  foreign  stock  life  insurance  company  issuing  or 
professing  to  issue,  after  such  date,  any  participating  policies, 
shall  transact  business  in  this  state,  if  it  shall  issue  any  policies 
except  annuities,  which  do  not,  by  their  terms,  give  to  the 
holders  thereof  full  right  to  participate  as  aforesaid. 

Exceptions,  policies  issued  on  lapse  or  surrender. 

4.  This  section  shall  not  apply  to  paid-up  or  temporary  and 
pure  endowment  insurance  issued  or  granted  in  exchange  for 
lapsed  or  surrendered  policies. 

19470(5)   (Ch.  449,  1909,  in  effect  June  18,  1909] 
Exceptions ;  separate  departments ;  agreement. 

5.  This  section  shall  not  apply  to  any  company  which  keeps 
and  transacts  its  participating  and  non-participating  business 
in  separate  departments,  and  keeps  separate  accounts  and 
maintains  a  complete  separation  between  the  two  departments, 
and  which  shows  a  surplus  in  each  department  after  deducting 
any  funds  accumulated  for  the  payment  of  dividends  under  sec- 
tion 1952f,  and  which  shall  file  with  the  commissioner  of  insur- 
ance an  agreement  for  the  benefit  of  all  policy  holders  now  or 
hereafter  residing  in  the  State  of  Wisconsin,  that,  in  consider* 
tion  of  being  permitted  to  issue  non-participating  insurance 
in  this  state,  no  part  of  the  funds  accumulated  or  belonging  to 
the  participating  department  shall  ever  be  transferred  to  the 
non-participating  department,  except  such  as  the  existing  char- 
ter of  the  company  or  its  policies  require. 

1947p  (Ch.  391,  1907.) 

Stock  life  companies  to  make  statement  of  rights  of  stocks 
holders  and  policy  holders  in  surplus. 

Section  1947p.     Every  stock  company  doing  life  insurance 
business  on  the  participating  plan  shall,  when  applying  to  do 
8—1.  L. 


1947|)  LIFE  COMPANIES.  114 

business  in  this  state,  and  before  any  license  or  certificate  of 
authority  shall  be  issued,  file  with  the  commissioner  of  insur- 
ance a  statement  under  oath  of  the  president  and  secretary, 
stating, 

(a)  The  amount  of  the  unassigned  surplus  of  such  company ; 

(b)  The  amount  of  said  surplus  belonging  to  the  policy- 
holders: 

(c)  The  amount  of  such  surplus  belonging  to  the  stock- 
holders; ^,  N    I  _^|^ 

(d)  The  method  of  ascertainment  and  the  action  upon  the 
part  of  the  stockholders  or  such  company  determinmg  the 
rights  of  such  policyholders  and  stockholders  respectively. 

No  license,  certificate  or  authority  to  transact  business  in 
this  state  shall  be  issued  to  any  such  stock  company  until  such 
statement  is  made,  and  the  commissioner  of  insurance-  is  sat- 
isfied that  the  respective  rights  of  such  policyholders  are  fully 
and  legally  detennined. 

1947r  (Ch.  621,  1907.) 

Salaries;  limitation;  vote  on  increase. 

Section  1947r.  No  domestic  life  insurance  company  trans- 
acting a  mutual  or  participating  business  shall  incur  or  ex- 
pend in  any  one  year  for  any  salary,  compensation  or  emolu- 
ment to  any  officer,  trustee,  director  or  salaried  employe  of 
such  company,  either  directly  or  indirectly,  any  sum  in  excess 
of  twenty-five  thousand  dollars,  unless  a  greater  maximum 
shall  have  been  fixed  by  a  majority  vote  of  the  policy-holders 
voting  at  any  regular  election  of  directors.  Notice  of  the 
submission  of  such  question  shall  be  given  by  mail  to  each  pol- 
icy holder  at  the  same  time  as  the  notice  of  election  is  re- 
quired to  be  given. 

1948  (1898;  ch.  132,  1907.) 

License  required  to  transact  business;  examination;  value 
of  policies. 

Section  1948.  No  company  shall  transact  business  in  this 
state  until  it  shall  have  obtained  a  license  therefor  from  the 
commissioner  of  insurance. 

No  such  license  shall  be  issued  until  the  company  has  com- 
plied with  all  the  requirements  of  the  laws  of  this  state,  nor 
until  after  such  examination  as  he  may  require,  the  commis- 
sioner is  satisfied  that  its  assets  are  properly  and  safely  secured 
and  exceed  its  liabilities,  valuing  its  policies  as  provided  by  the 
laws  of  this  state. 

Such  value  shall  be  computed  according  to  the  face  or  nomi- 


>^" 


115  LIB^E  COMPANIES.  194^ 

nal  sum  named  in  such  policies  or  certificates  of  membership, 
wliether  payment  thereof  is  absolute  and  provided  for  by  the 
collection  of  fixed  premiums  or  is  contingent  upon  assessments 
to  be  levied  upon  and  collected  from  the  members  of  such  cor- 
poration or  company. 

1948f  (Ch.  208,  1911,  in  effect  May  27,  1911.) 

Life  policies,  form,  premiums,  reserves,  values,  filing,  dis- 
approval, fees  for  verification. 

Section  1948f.  1.  On  and  after  the  first  day  of  January, 
1912,  no  policy  of  life  or  disability  insurance  as  defined  in  sub- 
sections 3  and  4  of  section  1897,  shall  be  issued  or  delivered  in 
this  state  until  the  same  has  been  approved  by  the  commis- 
sioner of  insurance,  or  until  there  has  been  filed  with  him  at 
least  thirty  days : 

a.  A  copy  of  the  form  of  such  policy; 

b.  A  copy  of  any  table  of  rates  or  statement  of  benefits  fur- 
nished to  agents  or  to  insurants  or  to  the  public  in  this  state ; 

c.  In  case  of  life  insurance,  a  separate  statement  on  the  basis 
of  one  thousand  dollars  of  insurance  for  each  age  at  which  poli- 
cies are  to  be  issued,  stating  in  dollars  and  cents,  for  each 
year  during  the  possible  history  of  the  policy ; 

1.  the  premium ; 

2.  the  expected  mortality  or  cost  of  insurance ; 

3.  the  reserve,  and 

4.  the  value  at  the  end  of  each  policy  year  of  any  and  all 
benefits  promised  upon  surrender,  lapse,  or  any  change  in  the 
policy,  except  that  such  value  need  not  be  extended  beyond  the 
first  twenty  years. 

d.  In  lieu  of  including  in  such  statement  the  expected  mor- 
tality or  cost  of  insurance  and  the  reserve  mentioned  in  para- 
graph c  hereof,  with  the  approval  of  the  commissioner,  a  refer- 
ence may  be  made  to  any  book,  pamphlet,  or  document  on  file 
with  and  approved  by  the  commissioner  containing  such  figures. 
If  any  such  statement  for  any  age  shall  not,  as  to  such  expected 
mortality  or  cost  of  insurance  and  reserve,  refer  to  figures  so 
on  file  with  the  commissioner,  but  shall  give  figures  which  do 
not  correspond  therewith,  the  company  filing  the  same  shall  pay 
for  verifying  the  same  a  fee  of  ten  dollars  for  each  age  for 
which  such  statement  shall  fail  to  correspond,  which  shall  be 
paid  into  the  state  treasury. 

2.  No  such  policy  shall  be  issued  or  delivered  in  this  state 
after  the  making  of  an  order  by  the  commissioner  giving  rea- 
sons for  the  disapproval  thereof,  or  of  the  copy  or  statement 
required  to  be  filed  therewith,  and  notice  thereof  shall  have 
been  given  to  the  company. 


1948m  LIB^E  COMPANIES.  116 

1948m  (Ch.  108,  1909,  in  effect  July  1,  1909.) 

Life  companies,  policy  provisions;  industrial  excepted. 

Section  1948m.  After  the  year  1909  no  policy,  other  than 
a  policy  of  industrial  insurance  where  the  premiums  are  pay- 
able monthly  or  oftener,  shall  be  issued  or  delivered  in  this 
state,  unless  it  contains  in  substance  the  following  provisions: 

Mortality  table;  interest  rate;  method;  specified  in  policy. 

1.  Specifying  the  table  of  mortality  and  rate  of  interest  and 
method  upon  which  the  reserve  on  such  policy  is  to  be  com- 
puted. 

Premium,  separate ;  application  may  contain. 

2.  Specifying  separately  the  premium  charged  for  any  ben- 
efit promised  in  the  policy  other  than  life  or  endowment  in- 
surance, provided  that  any  company,  required  by  the  laws  of 
the  state  wherein  it  is  organized  to  issue  a  standard  form  of 
policy,  may  omit  provisions  1  and  2  from  its  policy  and  insert 
the  same  in  the  application,  if  a  copy  thereof  shall  be  attached 
to  the  policy  wh^n  issued. 

Premium  loan ;  automatic,  when. 

3.  That  upon  the  non-payment  of  any  premium  when  due,, 
after  payment  of  premiums  for  (insert  a  number  not  exceed- 
ing three)  full  years,  the  same  shall  be  paid  by  being  charged 
as  a  loan  against  the  policy  at  the  same  rate  of  interest  as 
therein  specified  for  other  policy  loans.  Such  loan  shall  be 
payable  at  any  time  at  the  option  of  the  insured,  and  shall  be- 
come due  and  payable  only  when  the  total  of  all  loans  and  in- 
terest shall  equal  the  reserve  less  the  surrender  charge  specified 
in  the  policy.  In  such  case  each  premium  receipt  shall  show 
the  total  indebtedness  on  such  policy  to  the  company  at  the 
date  of  such  receipt. 

Extended  insurance;  paid  up  insurance;  benefits  equiva- 
lents ;  term  insurance  excepted. 

4.  That  upon  the  non-payment  of  any  premium  when  due. 
after  payment  of  premiums  for  (insert  a  number  not  exceed- 
ing three)  full  years,  the  insured  shall  be  granted  as  specified 
in  the  policy  either  extended  insurance  or  paid-up  insurance, 
the  net  single  premium  on  which,  computed  on  the  mortality 
and  interest  assumptions  of  the  policy,  shall  at  any  time  equal 
the  reserve  less  the  surrender  charge  specified  therein,  and  less 
any  existing  indebtedness  to  the  company  on  or  secured  by  the 
policy.     Provisions  3  and  4  shall  not  be  required  in  term  insur- 


117  LIFE  COMPANIES.  1948m 

ance  of  twenty  years  or  less,  and  either  may  be  automatic,  and 
either  may  be  omitted. 

1949.(1898;  ch.  150,  1907.) 

DiscontinuBJice  of  business;  notice  by  commissioner;  for- 
feiture. 

Section  1949.  Whenever  the  assets  of  any  life  insurance 
company  shall  not  equal  its  liabilities  computed  as  provided  by 
section  1948,  the  commissioner  of  insurance  shall  give  notice  to 
such  company  and  its  agents  to  discontinue  issuing  new  policies 
within  this  state  until  such  time  as  its  assets  have  become  equal 
to  its  liabilities  computed  as  aforesaid.  Any  officer  of  agent 
who,  after  such  notice  has  been  given,  issues  or  delivers  a  new 
policy  for  and  on  behalf  of  such  corporation  before  its  funds 
shall  have  been  examined  by  the  commissioner  and  a  new  cer- 
tificate of  authority  issued  shall  forfeit  for  each  offense  not 
less  than  one  hundred  dollars  nor  more  than  one  thousand  dol- 
lars. 

1950.  (1898:  ch.  e519,  1905;  ch.  209,  1909,  in  effect  Jan.  1,  1910.) 
Life  companies,  valuation  of  policies ;  basis :  method. 
Section  1950.  1.  Every  life  insurance  company  doing  busi- 
ness in  this  state  or  having  in  force  in  this  state,  policies  issned 
therein,  shall  "hold  funds  properly  and  safely  secured  to  pro- 
vide for  its  reserve  liability  over  and  above  all  its  other  lia- 
bilities, which  reserve  liability  shall  be  determined  by  the  state 
as  follows: 

a.  All  policies  issued  by  a  domestic  company  after  the  year 
1909  shall  be  valued  according  to  the  expense  charges  assumed, 
the  table  of  mortality  adopted,  and  the  rate  of  interest  as- 
sumed. 

b.  Any  policies  issued  by  a  foreign  country  after  the  year 
1909  may  be  valued  as  provided  in  subsection  a,  provided  the 
assumptions  as  to  mortality  and  interest  shall  conform  to  the 
requirements  of  subsections  1  and  2  of  section  1950c,  and  pro- 
vided the  aggregate  liability  shall  not  be  less  than  that  result- 
ing from  a  valuation  under  the  laws  of  the  state  or  country 
where  the  home  office  of  said. company  is  located. 

c.  All  policies  issued  before  the  year  1910,  on  any  plan  not 
providing  in  every  year  for  full  net  level  premium  reserves  may 
be  valued  upon  such  plan  and  on  the  basis  of  either  the  Amer- 
ican Experience  or  the  Actuaries  Table  of  mortality,  and  a  rate 
of  interest  not  higher  than  that  assumed  nor  higher  than  four 
and  one-half  per  centum  per  annum. 


1950  LIFE  COMPANIES.  118 

d.  All  policies  for  which  no  other  method  of  valuation  is  pro- 
vided shall  except  as  hereafter  provided  be  valued  on  a  net 
level  premium  reserve  basis  computed  on  either  the  American 
Experience  or  Actuaries  Table  of  Mortality  and  a  rate  of  in- 
terest, for  policies  issued  before  the  year  1910,  not  higher  than 
that  assumed  nor  higher  than  four  and  one-half  per  centum 
per  annum,  and  for  policies  issued  after  the  year  1909,  not 
higher  than  that  assumed  nor  higher  than  four  per  centum  per 
annum. 

0.  Any  policies  mentioned  in  subsections  b,  c,  and  d  may  be 
valued  to  produce  aggregate  reserve  liabilities  in  excess  of 
those  required  by  said  subsections  but  not  greater  than  such 
as  would  result  from  valuing  the  same  on  the  basis  of  the  table 
of  mortality  adopted  with  interest  at  three  per  centum  per  an- 
num. 

f.  The  commissioner  of  insurance  may  vary  the  standards  of 
interest  and  mortality  in  the  case  of  corporations  of  foreign 
countries  as  to  contracts  issued  by  such  corporation  in  other 
countries  than  the  United  States  and  in  particular  cases  of  in- 
valid lives  and  other  extra  hazards,  and  value  policies  in  groups 
and  use  approximate  averages  for  fractions  of  a  year. 

Liability;  premium;  deficient. 

2.  In  every  case  in  which  the  actual  premium  charged  for 
an  insurance  is  less  than  the  net  premium  for  such  insurance, 
required  according  to  the  table  of  mortality  adopted  and  rate 
of  interest  assumed,  the  company  shall  also  be  charged  with  the 
present  value  of  an  annuity,  the  amount  of  which  shall  equal 
the  deficiency  by  reason  of  the  premium  charged  being  less 
than  the  net  premium  required. 

Expense  charge. 

3.  In  every  case  where  the  premium  stipulated  in  any  policy 
shall  provide  for  an  expense-charge  exceeding  in  any  year  the 
provision  for  expenses  in  such  year  the  valuation  shall  include 
a  liability  computed  on  the  basis  of  the  excess  of  such  expense- 
charge.  ;     ,'     ;  ^i¥] 

Valuation ;  department  of  foreign  state. 

4.  The  valuation  annually  made  and  accepted  by  the  insur- 
ance department  of  any  other  state  of  the  United  States  or  any 
other  country  of  any  policies  of  a  company  located  in  such  other 
state  or  country,  if  such  valuation  shall  be  certified  as  true  and 
correct  by  the  insurance  commissioner,  or  like  officer,  of  such 
state  or  country,  shall  be  received  and  accepted  by  the  com- 


119  LIFE  COMPANIES.  1950 

missioner  of  insurance  of  this  state,  and  no  further  valuation 
shall  be  required, or  be  made  by  him  for  the  year  for  which 
such  valuation  shall  be  so  certified,  provided  that  the  aggregate 
liability  so  determined  shall  not  be  iCss  than  the  liability  result- 
ing from  a  valuation  made  under  the  laws  of  this  state. 

Valuation;  department  of  commerce  and  labor. 

5.  The  valuation  by  the  department  of  commerce  and  labor 
of  the  United  States,  authorized  by  any  law  thereof,  of  any 
policies  of  a  company  located  outside  of  this  state,  if  conform- 
ing to  the  aforesaid  provisions  as  to  valuation  by  the  commis- 
sioners or  like  officers  of  such  other  states  or  countries,  shall 
be  received  and  accepted  in  like  manner. 

Valuation;  commissioner  to  make. 

6.  Except  as  aforesaid  the  commissioner  of  insurance  shall 
annually  make  or  cause  to  be  made  valuations  of  all  outstand- 
ing policies,  additions  thereto,  and  other  obligations  of  every 
such  company  mentioned  in  subsection  1. 

Valuation ;  commissioner  to  certify. 

7.  The  commissioner  of  insurance  shall,  annually,  after  the 
year  1909,  upon  the  request  of  any  domestic  company,  without 
additional  charge  or  expense  to  it,  make  one  additional  valua- 
tion of  such  policies  according  to  such  standard,  as  it  shall 
specify.  Any  valuation  made  by  him  shall,  upon  request,  be 
certified  to  the  commissioner  of  insurance  or  like  officer  of  any 
other  state  or  country. 

Valuation;  records  of. 

8.  All  valuations  made  by  the  state  shall  be  tabulated  and 
preserved  as  a  part  of  the  records  of  the  Department  of  insur- 
ance. Each  valuation  shall  be  accompanied  by  a  statement  of 
the  tables  of  mortality  used,  the  rates  of  interest  assumed,  and 
the  method  of  computation  employed. 

Section  1950  is  referred  to  in  section  1950  (22). 

1950a  (Ch.  209,  1909,  in  effect  Jan.  1,  1910.) 
Valuation;  fee. 
Section  1950a.  There  shall  be  paid  by  every  life  insurance 
company  organized  in  this  state  and  by  every  life  insurance 
company  organized  under  the  laws  of  some  other  state  or  for- 
eign country,  if  no  certified  valuation  has  been  furnished  as 
herein  provided,  by  way  of  compensation  for  the  valuation  of 
its  policies  one  cent  on  every  one  thousand  dollars  insured  by 
it,  which  shall  be  paid  by  the  commissioner  of  insurance  into 
the  state  treasury, 


1950b  LIFE   COMPANIES.  120 

1950b  (Ch.  209,  1909,  in  effect  Jan.  1,  1910.) 

Life  companies;  from  foreign  countries;  valuation;  deposit. 

Section  1950b.  Whenever  any  life  insurance  company,  or- 
ganized under  the  laws  of  any  foreign  country,  shall  have  been 
admitted,  it  shall  also  be  the  duty  of  the  commissioner  of  insur- 
ance to  annually  and  separately  value  all  policies  written  in,  or 
on,  the  lives  of  residents  of  this  state,  and  it  shall  be  the  duty  of 
such  company,  as  one  of  the  conditions  of  renewal  of  license,  to 
invest,  and  at  all  times  keep  invested,  the  aggregate  net  value 
of  such  policies,  in  such  securities  as  provided  for  under  the 
laws  of  this  state,  and  deposit  such  aggregate  amount  in  such 
securities  at  their  book  value,  with  the  state  treasurer;  every 
such  company  depositing  such  securities  shall  have  the  right  to 
receive  the  income  thereof,  and  to  exchange  the  same  from  time 
to  time  for  like  securities  of  like  value,  and  may  withdraw  such 
deposit  when  the  commissioner  of  insurance  shall  certify  that  all 
liability  arising  under  all  policies  or  contracts  issued  in  or  on 
the  lives  of  residents  of  this  state  has  been  satisfied,  and  that 
there  is  no  further  necessity  for  such  deposit. 

1950c  (Ch.  209,  1909,  in  effect  Jan.  1,  1910.) 

Life  companies,  valuation ;  mortality  table ;  interest  rate. 

Section  1950c.  1.  The  table  of  mortality  adopted,  if  other 
than  the  American  Experience,  the  Actuaries,  or  the  American 
Experience  Select,  (on  the  basis  that  the  rate  of  mortality  dur- 
ing the  first  five  years  after  the  date  of  insurance  shall  be  cal- 
culated according  to  the  following  percentagjes  of  the  rate  shown 
by  the  American  Experience  Table  of  Mortality,  to-wit :  First 
vear  of  insurance  fifty  per  centum  thereof,  second  vear  of  in- 
surance sixty-five  per  centum  thereof,  third  year  of  insurance 
seventy-five  per  centum  thereof,  fourth  vear  of  insurance  eisfhty- 
five  per  centum  thereof,  fifth  year  of  insurance  ninety-five  per 
centum  thereof,  and  for  each  year  thereafter  one  hundred  per 
centum  thereof)  shall  not  exhibit  at  any  age  a  lower  death  rate 
than  that  shown  at  the  corresponding  asre  and  duration  by  the 
British  Offices  Select  0  (M)  Mortality  Table. 

2.  The  rate  of  interest  assumed  in  computing  premiums  and 
reserves  shall  not  be  less  than  three,  nor  more  than  four  per 
centum  per  annum. 

Section  1950c  "is  referred  to  in  1950. 

1950d  (Ch.  536,  1909,  in  effect  June  22,.1909.) 
Valuation  of  policies ;  industrial  insurance. 
Section  1950d.     1.  Policies  of  industrial  insurance  on  which 
the  premiums  are  payable  monthly  or  oftener  shall  be  valued  to 
produce  reserves  not  less  than  those  computed  on  the  ' '  Standard 


I2i  LIFE  COMPANIES.  1950d 

Industrial  Mortality  Table"  and  the  ''Substandard  Industrial 
Mortality  Table"  based  on  the  experience  of  the  Metropolitan 
Life  Insurance  Company,  with  interest  at  three  and  one-half 
per  centum  per  annum. 

Valuation;  annuities. 

2.  Annuities  shall  be  valued  to  produce  reserves  not  less  than 
those  computed  on  "McClintock's  Tables  of  Mortality  among 
annuitants,"  with  interest  at  three  and  one-half  per  centum 
per  annum;  provided  that  any  table  not  exhibiting  at  any  age 
a  higher  death  rate  than  that  shown  at  the  corresponding  age 
and  duration  by  the  "British  Offices  Annuity  Tables  1893," 
may  be  used.  Annuities  granted  in  any  policy  of  life  insur- 
ance may  be  valued  in  like  manner  except  that  annuities  de- 
ferred for  ten  years  or  more  may  be  valued  on'  the  table  of 
mortality  used  for  computine:  the  ]:)remiums. 

Valuation;  disability. 

8.  The  reserves  computed  on  policies  insuring  against  dis- 
ability because  of  sickness  or  accident  shall  not  be  less  than 
those  determined  according  to  the  "British  Friendly  Society 
Table  1876  to  1880,"  with  interest  at  three  and  one-half  per 
centum  per  annum.  The  commissioner  may  vary  the  standards 
in  cases  where  the  use  of  such  table  is  impracticable,  and  may 
also  require  additional  reserves  in  case  of  hazardous  occupa- 
tions. 

Valuation ;  exception ;  policies  issued  prior  to  1907. 

^^      4.  This  section  shall  not  apply  to  any  policies  issued  prior  to 
1907. 

1950m  (Ch.  668,  1907.) 

Limitation  of  expense  provision  in  premiums. 

Section  1950m.  After  the  year  1907  no  foreign  life  insur- 
ance company  shall  issue  or  deliver  any  policy  in  thie  state,  and 
no  domestic  life  insurance  company  shall  issue  or  deliver  any 
policy,  wherein  the  present  value  of  the  premiums  stipulated  to 
be  paid  shall  exceed  the  sum  of : 

a.  The  net  single  premium  which  mature  the  policy  accord- 
ing to  its  terms  (exclusive  of  the  provisions  mentioned  in  sub- 
division b)  such  present  value  and  net  single  premium  to  be 
computed  on  the  basis  of  the  table  of  mortality  adopted  and 
the  rate  of  interest  assumed;  and 

b.  An  amount  as  a  provision  for  expenses  and  contingencies 
equal  to  one-third  of  the  net  single  premium  on  an  ordinary 
life  policy  insuring  the  same  sum  and  issued  at  the  same  age, 


1950m  LIFE  COMPANIES.  122 

computed  according  to  the  American  Experience  table  of  mor- 
tality with  interest  at  three  per  centum  per  annum. 

First  and  subsequent  years. 

The  amount  provided  for  expenses  and  contingencies  for  any 
policy  year  (as  a  measure  for  first  and  subsequent  years)  shall 
not  exceed : 

(1)  In  the  first  year,  the  difference  between  the  mortality 
charge  computed  on  the  basis  oi'  no  deposit  for  such  year  and 
the  level  premium  on  a  twenty  annual  premium  payment  life 
policy  insuring  the  same  sum  and  issued  at  the  same  age  and 
computed  upon  the  same  table  of  mortality  and  rate  of  interest, 
and  the  maximum  provision  under  subdivision  b,  computed  on 
the  American  Experience  table  of  mortality  with  interest  at 
three  per  centum  per  annum,  together  with  the  excess,  if  any, 
of  the  first  year's^ premium  over  the  largest  subsequent  annual 
premium  on  such  policy,  provided  the  first  year's  expense 
charge  on  any  policy  shall  in  no  case  exceed  the  difference  be- 
tween the  premium  and  the  mortality  charge  for  such  year. 

(2)  In  any  one  of  the  four  succeeding  years,  one  and  one- 
half  the  amount  which  would  be,  available  under  a  level  dis- 
tribution of  the  maximum  provision  under  subdivision  b ;  over 
the  premium  paying  period  of  the  policy,  computed  upon  the 
American  Experience  table  of  mortality  with  interest  at  three 
per  centum  per  annum. 

(3)  In  any  year  after  the  fifth  year,  the  amount  which  would 
be  available  under  a  level  distribution  of  the  maximum  pro- 
vision under  subdivision  b,  over  the  premium  paying  period  of 
the  policy,  computed  upon  the  American  Experience  table  of 
mortality  with  interest  at  three  per  centum  per  annum. 

Exceptions. 

This  section  shall  not  apply  to  policies  of  industrial  insur- 
ance. 

1950n  (Ch.  657,  1907.) 

Expenses;  first  year;  total;  annual  report;  form. 

Section  1950n.  Every  foreign  life  insurance  company  doing 
business  in  this  state  or  having  in  force  any  policies  issued  in 
this  state,  and  every  domestic  life  insurance  company,  shall, 
beginning  with  the  first  day  of  March,  1909,  and  on  the  first 
day  of  March  each  year  thereafter,  as  of  the  calendar  year  pre- 
ceding, make  a  report  in  writing  to  the  commissioner  of  insur- 
ance in  the  following  form ; 


123  LIFE  COMPANIES.  I950n 

Report  of ,  of  expense  charges  and  expendi- 
tures for  the  year  ending  December  31,  19. . 

FIRST  YEAR  BUSINESS. 

in)  Total  expense  charges  of  lirst  year  contained  in  premiums 
for  the  first  year  of  Insurance  received  in  said  calendar 
year    $ .  . .  . 

(b)   Total  expenses  incurred  or  paid: 

1.  For  commissions  on  first  year's  premiums $ 

2.  For  advances  to  agents $ 

3.  For  advertising $ 

4.  For  such  part  of  the  expenses  of  medical  examinations 
and  inspection  of  risks  not  actually  paid  from  sav- 
ings on  mortality $ 

f).  The  due  proportion  well  and  truly  ascertained  of  all 
other  expenses  properly  chargeable  to  first  year's 
business,  exclusive  of  expenses  for  medical  exam- 
inations and  inspections  of  risks  actually  paid 
from  gains  on  mortality,  and  of  investment  ex- 
penses, taxes,  fees  and  licenses,  actually  paid  from 
the  savings  on  interest  and  the  contingency  re- 
serve: 

For  agency  supervision $ 

For  home  office $ . . . . 

For  other  items $ . . . . 

Total    $.... 

Total  first  year's  expenses  $ 


TOTAL  BUSINESS. 

(c)  Total  expense  charges  becoming  available  in  said  calendar 

year   ? 

(d)  Expenses  for  medical  examinations  and  inspection  of 

risks $ 

Amount  actually  paid  from  the  gains  on  mortality,  to 

be  deducted  from  above •  $ 

Balance  of  above  expenses $ $ 

Total    $ 

Fees  and  licenses % 

Taxes    $ 

Amount  actually  paid  from  savings  on  interest  $ 

Contingency  reserve  $ 

Total  to  be  deducted  from  above $ 

Balance  of  above  expenses  $ 

All  other  expenses $ 

Total  expenses * 

Section  1950n  is  referred  to  in  section  1950o. 

The  form  for  total  expenses  issued  by  the  commissioner  under  this 
section  is  as  follows: 


i950ii  LIFE  COMPANIES.  124 


TOTAL  BUSINESS. 

(c)  Total  expense  charges  becoming  available  in  said  cal- 

endar year  $ . 

(d)  Total  expenses  for  said  year: 

6.  Medical  examination  and  inspection  of 

y  risks    $ 

7.  Deduct    amount    of    same    paid    from 

gains  on  mortality $ 

8.  Balance,  deducting  (7)   from  (6)    $. 

9.  Fees  and  licenses  $ 

10.  Taxes $ 

11.  Investment  expenses   $ 

12.  Total  of  9,  10,  and  11 $ 

13.  Amt.    actually    paid    from 

savings  on  interest  ...   $ 

14.  Amount  paid  from  contin- 

gency reserve   % 

15.  Total   (13)  and  (14)    $ 

IG.  Balance,  deducting  (15)  from  (12)   $. 

17.  All  other  expenses  $ , 

18.  Total  expenses,  add   (8),   (16)   and   (17)    $ 

19.  Excess  or  deficiency  of  (c)  over  (18)   $, 

Section  1950n  is  referred  to  in  1950o. 


1 


1950O  (Ch.  657,  1907.) 

Limitation  of  first  year  expense. 

Section  1950o,  No  company  mentioned  in"  section  1950n. 
shall  incur  or  expend  or  permit  any  person,  firm  or  corporation 
to  incur  or  expend  on  its  behalf,  or  under  any  agreement  with 
it,  during  any  calendar  year,  for  the  purposes  specified  in  sub- 
division b,  in  section  1950n,  an  amount  exceeding  in  the  aggre- 
gate the  total  expense  charges  specified  in  subdivision  a,  in 
section  1950n. 

Section  1950o  is  referred  to  in  section  1950t. 

1950p  (Ch.  657,  1907.) 

Limitation  of  aggregate  expense. 

Section  1950p.  No  company  mentioned  in  section  1950n  shall 
in  any  calendar  year  make  or  incur  any  expense,  or  permit  any 
expenses  to  be  made  or  incurred  on  its  behalf  or  under  any 
agreement  with  it,  for  all  purposes  (exclusive  of  such  expenses 
for  medical  examinations  and  inspections  of  risks  as  are  actually 
paid  from  the  gains  on  mortality  and  of  such  investment  ex- 
penses, taxes,  fees  and  licenses  as  are  actually  paid  from  the 
savings  on  interest  and  the  contingency  reserve),  in  an  amount 
exceeding  in  the  aggregate  the  total  expense  charges  specified  in 
subdivision  c  in  section  1950n. 

Section  1950p  is  referred  to  in  section  1950t. 


125  LIFE  COMPANIES.  1950q 

1950q  (Ch.  120,  1909,  in  effect  May  13,  1909.) 
Agents ;  commissions  and  advances ;  limitation. 

Section  1950q.  No  comDanv  mentioned  in  section  1950n  shall 
in  any  calendar  year,  on  account  of  any  policy,  make  or  incur 
tiny  expense  or  permit  any  expense  to  be  made  or  incurred  on 
its  behalf  or  under  any  agreement  with  it  for  commissions  and 
jidvances  to  agents  greater  than  the  expense  charge  becoming 
available  on  such  policy  in  such  calendar  year. 

Section  1950q  is  referred  to  in  section  1950t. 

1950r  (Ch.  G57,  1907.) 

Compensation  of  agents  to  be  agreed  on  in  advance. 

Section  1950r.  No  such  company,  nor  any  person,  firm  or 
corporation  on  its  behalf,  or  under  any  agreement  with  it,  shall 
pay  or  allow  any  agent,  broker  or  other  person,  firm  or  corpora- 
tion, for  procuring  an  application  for  life  insurance,  for  collect- 
ing any  premium  thereon  or  for  any  other  service  performed 
in  connection  therewith,  any  compensation  other  than  that 
which  has  been  determined  in  advance. 

Section  1950r  is  referred  to  in  section  1950t. 

1950s  (Ch.  657,  1907.) 

Bonuses  and  prizes  prohibited. 

Section  1950s.  All  bonuses,  prizes  and  rewards  and  all  in- 
creased or  additional  commissions  or  compensations  of  any  sort, 
based  upon  the  volume  of  any  new"  or  renewed  business,  or 
upon  the  aggregate  of  policies  written  or  paid  for,  or  upon  any 
other  contingency,  are  prohibited. 

Section  1950s  is  referred  to  in  section  1950t. 

1950t  (Ch.  657,  1907.) 

Stock   companies   issuing  non-participating  business   ex- 
cepted ;  industrial  policies  excepted. 

Section  1950t.  Sections  1950o,  1950p,  1950q,  195()r,  and 
1950s,  shall  not  apply  to  stock  corporations,  issuing  and  repre- 
senting themselves  as  issuing  non-participating  policies  ex- 
clusively, nor  to  industrial  policies. 

1951   (1898;  ch.  22,  1901;  ch.  6,  1903;  ch.  263,  1905;  ch.  502, 
1911,  in  effect  July  3,  1911.) 
Investments,  domestic  life  companies.    Other  business  pro- 
hibited. 
Section  1951.     Every     *     *     *     Hfc  insurance  company  or- 
ganized under  the  laws  of  this  state,  may  invest  its  funds  and 
accumulations  in  stocks  or  bonds  of  the  United  States  or  of  this 


1951  LIFE  COMPANIES.  126 

state,  or  of  any  county,  city,  town,  or  village,  or  duly  organ- 
ized school  district  therein,  or  in  mortgages  being  first  liens  on 
real  estate  whether  held  in  fee,  or  as  leasehold  running  not  less 
than  twenty-five  years,  or  in  fee  subject  to  leasehold,  worth  at 
least  twice  the  money  loaned  thereon,  or  in  the  mortgage  bonds 
of  any  railway  or  street  railway  company  duly  incorporated 
and  organized  under  the  authority  of  this  state ;  and  it  may  also 
make  loans  on  the  security  of  promissory  notes  amply  secured 
by  pledge  of  any  of  the  bonds  in  which  such  insurance  corpora- 
tions are  hereby  authorized  to  invest  their  funds,  and  every 
such  corporation  may  not  only  loan  to  its  policyholders,  sums 
not  exceeding  one-half  of  the  annual  premiums  on  their  poli- 
cies, upon  note  to  be  secured  by  the  policies  of  the  persons  to 
whom  the  loans  may  be  made,  but  may  also  make  loans  upon 
the  security  of  its  own  policies  to  an  amount,  *  *  *  which 
with  other  indebtedness  and  unpaid  installments  of  the  premium 
and  interest  to  the  next  policy  anniversary  shall  not  exceed*  the 
surrender  value  specified  in  the  policy,  and  such  corporation  may 
invest  its  funds  in  other  states,  organized  territories  of  the 
United  States,  and  the  District  of  Columbia,  on  like  securities 
and  under  the  same  restrictions  as  in  this  state.  No  life  insur- 
ance corporation  organized  under  the  laws  of  this  state  shall 
issue  policies  insuring  fire,  marine,  accident,  or  life  stock  risks, 
nor  do  any  banking  business,  except  as  otherwise  provided  by 
law. 

1952  (1898;  ch.  448,  1905.) 

Surplus  in  mutual  life  companies;  deferred  dividend  pro- 
hibited. 

Section  1952.  Every  life  insurance  corporation  doing  busi- 
ness in  this  state  upon  the  principle  of  mutual  insurance,  or  the 
members  of  which  are  entitled  to  share  in  the  surplus  funds 
thereof  may  make  distribution  of  such  surplus  as  they  may 
have  accumulated  annually,  or  once  in  two,  three,  four  or  five 
years  as  the  directors  thereof  may  from  time  to  time  deter- 
mine. In  determining  the  amount  of  the  surplus  to  be  distrib- 
uted there  shall  be  reserved  an  amount  not  less  than  the  aggre- 
gate net  value  of  all  the  outstanding  policies,  said  value  to  be 
computed  by  the  American  Experience  Table  of  Mortality  with  ; 
interest  not  exceeding  four  and  one-half  per  cent.  Nothing  in 
this  section  shall  be  construed  to  hereafter  permit  any  such 
corporation  to  defer  the  distribution,  apportionment  or  account- 
ing of  surplus  to  policy  holders  for  a  long^er  period  than  five 
years,  and  on  all  policies,  hereafter  outstanding,  under  the  con-  , 


127  LIFE  COMPANIES.  1952 

ditions  of  which  the  actual  distribution  is  provided  for  at  a 
definite  or  fixed  period,  the  apportioned  surplus  shall  be  car- 
ried as  a  liability  to  the  class  of  policies  on  which  the  same  was 
accumulated. 

1952a  (Ch.  636,  1907.) 

Dividends;  annual  apportionment  of  surplus  to  deduction. 

Section  1952a,  Every  life  insurance  company  having  in 
force  any  policy  of  insurance  issued  or  delivered  in  this  state 
upon  the  mutual  or  participating  plan,  shall  annually,  as  of  the 
thirty-first  day  of  December,  ascertain  and  determine  the  excess 
of  its  assets  over  all  reserve  liabilities  and  all  other  liabilities 
constituting  its  profits,  savings,  earnings  or  surplus,  and  also 
the  amount  of  unapportioned  surplus  which  it  will  retain  there- 
from as  a  contingency  reserve.  After  setting  aside  such  unap- 
portioned surplus,  such  sums  as  may  be  required  for  the  pay- 
ment of  authorized  dividends  upon  the  capital  stock,  if  any,  and 
such  sums  as  may  properly  be  held  for  account  of  existing  de- 
ferred dividend  policies,  the  remaining  surplus  shall  be  appor- 
tioned equitably  to  all  other  policies  entitled  to  share  therein. 

Section  1952a  is  referred  to  in  1952c. 

1952b  (Ch.  636,  1907.) 

Annual  ascertainlnent  and  credit  of  dividend  required ;  ex- 
ceptions. 

Section  1952b.  On  all  participating  policies  of  life  insur- 
ance heretofore  or  hereafter  issued  in  this  state,  excepting  poli- 
cies of  industrial  insurance  or  of  paid-up  or  temporary  and 
pure  endowment  or  other  stipulated  form  of  insurance  issued 
or  srranted  in  exchange  for  lapsed  or  surrendered  policies  and 
policies  Tinder  the  conditions  of  which  the  distribution  of  prof- 
its, savings,  earnings  or  surplus  is  deferred  for  more  than  one 
year  from  the  date  of  the  policv,  and  contingent  upon  the  policy 
beiner  in  force  and  the  insured  living  at  the  completion  of  the 
period  for  which  such  distribntion  is  deferred,  the  company 
shall  annually  ascertain  and  credit  the  share  of  each  such  policy 
in  the  profits,  savings,  earnings  or  surplus. 

Section  1952b  is  referred  to  in  1952c,  1952d. 

19520  (Ch.  636,  1907.) 

Dividends:  liability  to  policy. 

Section  1952e.  1.  The  amount  of  profits,  savings,  earnings 
or  surplus  so  ascertained  to  be  due  to  each  such  policy,  together 
with  the  interest  earnings  and  accretions  thereto,  shall  be  car- 
ried as  a  distinct  and  separate  liability  to  such  policy  and  shall, 
except  as  otherwise  provided  in  contracts  heretofore  issued,  be 


1952c  LIFE   COMPANIES.  128 

paid  or  applied  or  be  subject  to  be  withdrawn  in  each  policy 
year,  or  be  paid  upon  the  maturity  or  termination  of  the  policy. 

Dividend  share  for  fractional  year. 

2.  Policies  which  have  become  payable  before  the  time  when 
the  next  distribution  would  have  been  made,  and  after  the  date 
of  the  last  previous  distribution,  shall  share  in  the  same  equi- 
taoly  and  proportionally. 

Annual  statement  to  commissioner  of  surplus  and  appor- 
tionment. 

3.  The  company  shall  annually,  on  or  before  the  first  day  of 
March,  after  the  year  1907,  file  with  the  commissioner  of  in- 
surance in  such  form  as  he  may  require,  a  statement  verified  by 
the  secretary  and  actuary,  showing  the  amounts  respectively  of 
the  unapportioned  surplus^  unpaid  dividends,  deferred  dividend 
surplus  mentioned  in  section  1952a  and  other  surplus;  and  show- 
ing fully  and  in  detail  the  method  of  ascertainment  and  appor- 
tionment of  profits,  savings,  earnings  or  surplus  on  the  policies 
within  the  provisions  of  section  1952b ;  the  interest,  mortalities 
and  expense  factors  used  in  making  such  ascertainment  and 
apportionment,  and  the  rate  of  interest  at  which  dividends  left 
to  accumulate  have  been  improved. 

1952d  (Ch.  120,  1909,  in  effect  May  13,  1909.) 
Dividends;  statement  to  insured;  form. 

Section  1952d.  Not  less  than  thirty  nor  more  than  sixty 
days  prior  to  the  date  of  distribution  of  the  dividend  on  any 
policy  in  any  year  after  the  year  1907,  every  company  having 
in  force  in  this  state  any  policy  within  the  provisions  of  section 
1952b  shall  mail  to  the  insured  named  in  each  policy,  at  his  last 
known  postoffice  address,  a  statement  of  the  apportionment  of 
surplus  to  such  insured  according  to  the  last  dividend  ascer- 
tainment, which  statement  shall  be  in  the  following  form : 

Annual  Statement  of  Dividend  Apportionment  for  19. .. 

On  Policy  No JMame  

Mortality  table 

Interest  basis per  cent. 

Gain  from  interest  computed  at per  cent $ 

Gain  from  mortality  charge  computed  at per  cent. . .  $ 

Gain  from  expense  charge $ 

Gain  from  all  other  sources  $ 

Total  dividend  credit  for  year $ 

Dividend  credit  preceding  year $ 

Interest  credit  at  per  cent $..... 

Total  dividend  credit 19 $ 

Interest  earned  by  company,  gross per  cent,  net per  cent. 

Mortality  gain  actually  experienced per  cent. 

0  iH  *  *  *  *.«  *  «  «  «  * 

Secretary. 


129  LIFE  COMPANIES.  1952f 

1952f  (Ch.  658,  1907.)  • 

Deferred  dividends;  ascertainment  annually  to  class;  for 
individual  on  request. 

Section  1952f.  On  all  policies  of  life  insurance  heretofore 
or  hereafter  issued  by  any  company  doin^  business  in  this  state 
under  the  conditions  of  which  the  distribution  of  profits,  sav- 
inpTS,  earninofs  or  surplus  is  deferred  for  more  than  one  year 
from  the  date  of  the  policy,  and  contingent  upon  the  policy 
bein^  in  force  and  the  insured  living  at  the  completion  of  the 
period  for  which  such  distribution  is  deferred,  the  company 
shall,  as  of  the  thirty-first  day  of  December  in  each  year,  after 
the  year  1907: 

(a)  Ascertain  and  set  apart  as  to  such  policies  as  a  class  the 
amounts  of  profits,  savinprs,  earnings,  or  surplus  then  accumu- 
lated to  provide  for  the  apportionment  and  distribution  agreed 
upon  in  such  policy  contracts. 

(h)  Ascertain  upon  the  written  request  of  the  insured  the 
contingent  share  of  every  individual  policy  in  such  class,  in  the 
profits,  savings,  earnings  or  surplus  so  ascertained  and  set 
apart. 

Section  1952f  is  referred  to  in  1952g,  1952i. 

1952P'  rCh.  6^8,  1907.) 

Deferred  dividend;  diversion  prohibited. 

Section  1952g.  No  part  of  the  amount  of  profits,  savings, 
earnings  or  surplus  so  ascertained  and  set  apart  to  such  class 
of  policies  under  subdivision  Ca)  of  section  1952f,  nor  of  the  in- 
terest earnings  or  accretions  thereto,  shall  be  diverted  for  divi- 
rlends,  expenses  or  surplus  on  account  of  any  other  class  or 
classes  of  policies.  , 

1952h  (Ch.  658.  1907.) 

Deferred  divide^id  ascertainment:  report  to  commissioner. 

Section  1952h.  The  company  shall,  on  or  before  the  first 
dav  of  March,  in  each  year  after  the  year  1908,  file  with  the 
commissioner  of  insurance,  a  statement  verified  by  the  secre- 
tary and  actuary  showinp*  fully  and  in  detail  the  method  of  as- 
certainment of  such  profits,  savin  srs,  earnings  or  surplus,  the 
amount  accumulated  at  the  end  of  the  preceding  year,  the  ad- 
ditions thereto  during  the  year,  and  the  sources  from  which 
derived;  the  deductions,  if  any*  made  durinsr  the  year,  and  th^ 
■nurposes  thereof,  and  the  amount  accumulated  at  the  end  of 
the  year;  and  a  statement  showin<T  the  number  of  such  policies 
and  the  amount  of  insurance  in  force  at  the  beginning  of  the 
year,  the  number  and  amount  respectively  issued,  revived  and 
9—1.  U 


1952h  LIFE  COMPANIES.  130 

terminated  during  the  year,  specifying  the  different  modes  of 
termination,  and  the  number  and  amount  of  such  policies  in 
force  at  the  end  of  the  year. 

19521  (Ch.  658,  1907.) 

Deferred  dividend;  statement  to  policy  holder  on  request; 
form. 

Section  1952i.  Every  company  having  in  force  in  this  state 
any  policy  mentioned  in  section  1952f  shall  on  written  request 
from  the  insured  under  any  such  policy  residing  in  this  state 
forward  by  mail  to  such  insured  at  his  last  known  postoffice 
address,  within  thirty  days,  after  receiving  such  request,  and 
if  the  request  shall  so  specify,  in  every  calendar  year  thereafter 
while  the  policy  is  in  force  prior  to  and  including  the  year  of 
the  final  distribution  agreed  upon,  a  statement  of  the  contin- 
gent share  of  such  policy  mentioned  in  subdivision  (b)  of  sec- 
tion 1952f  according  to  the  last  contingent  share  ascertainment 
prior  to  the  mailing  of  such  statement,  which  statement  shall 
give  the  following  items : 

Annual  Statement  of  Contingent  Share  of  Surplus  for  the  Year 
Ending ,  19 

Number  of   policy    

Contingent  share  at  beginning  of  year $ . . . . 

Interest  at. ... .  .per  centum  for  year  on  above  contingent  share  $. . . . 

Other  additions  for  year  to  above  contingent  share $ . . . . 

Total  contingent  tshare  at  end  of  year $ . . . . 

Net  rate  of  interest  earned  by  company  for  year per  centum 

Date  of  distribution  ,  19 ... . 

This  ascertainment  and  statement  shall  not  be  construed  as  any  al- 
teration or  waiver  of  any  of  the  terms  ajid  conditions  of  the  policy. 

,  Secretary. 

1953 

Foreign  life  company;  deposit  of  papers;  appointment  of 
attorney. 

Section  1953.  Every  life  insurance  corporation  not  organ- 
ized under  the  laws  of  this  state  shall,  before  doing  business 
herein,  deposit  with  the  commissioner  of  insurance  a  copy  of 
its  charter  and  a  statement  signed  and  verified  by  the  affidavit 
of  the  president  or  vice-president  and  of  the  secretary  in  the 
form  hereinafter  prescribed  for  its  annual  statement ;  and  also 
a  written  instrument  duly  signed  by  the  president  and  secre- 
tary thereof,  with  the  corporate  seal  affixed,  and  therein  ap- 
point an  attorney  to  reside  in  this  state,  specifying  his  place  of 
residence,  upon  whom  and  where  any  summons,  notice  or  pro- 
of any  court  of  this  state  may  be  served,  and  stipulate  that 


131  LIFE  COMPANIES.  1953 

service  of  any  such  summons,  notice  or  process  upon  any  such 
attorney  in  any  action  brought  upon  any  cause  of  action  arising 
out  of  any  business  or  transaction  in  this  state  shall  be  accepted 
irrevocably  as  a  valid  service  upon  such  corporation,  unless  an- 
other attorney  shall  be  subsequently  appointed  with  like  au- 
thority in  his  stead  such  authority  shall  be  continued  unrevoked 
while  any  liability  remains  outstanding  against  the  corporation 
in  this  state,  and  such  an  appointment  shall  not  be  revoked 
Every  such  service  shall  be  as  effectual  for  all  purposes  as  if  made 
on  a  corporation  organized  under  the  laws  of  this  state. 
Section  1953  is  referred  to  in  section  2637  (9). 

1953b  (Ch.  127,  1907.) 

Application,  copy  of  furnished  on  request. 

.  Section  1953b.  Every  person  within  the  state  holding  a  pol- 
icy of  insurance  issued  by  any  life  insurance  company  doing 
business  in  this  state,  shall  be  furnished  by  such  company  with 
a  copy  of  the  application  upon  which  Dolicy  was  issued,  upon 
demand  made  for  such  copy  by  the  holder  of  such  policy  or  by 
any  person  upon  whose  life  such  policy  was  issued. 

If  such  company  wilfully  neglect  or  fail  for  thirty  days  from 
the  time  of  such  demand,  to  furnish  such  person  a  copy  of  such 
application,  it  shall  be  forever  barred  from  setting  up  by  way 
of  defense  to  any  suit  on  such  policy  of  insurance,  any  error, 
incorrectness,  fraud  or  misrepresentation  of  the  person  making 
the  same,  or  any  mistake  therein;  and  such  application  shall 
thereafter  be  taken  and  held,  so  far  as  the  same  may  affect  any 
claim  under  such  policy,  or  any  gain  secured  thereby  to  be  in  all 
respects  true  and  correct. 

1953d  (Ch.  342,  1907.) 

Political  contributions,  statement  filed  with  commissioner. 

Section  1953d.  As  a  condition  precedent  to  the  issuance  of 
a  license  to  transact  life  insurance  business  in  this  state,  every 
life  insurance  company  shall  file  with  the  commissioner  of  in- 
surance a  statement  verified  by  its  president  and  secretary,  set- 
ting forth  a  schedule  showing  in  detail,  the  moneys,  property 
and  other  consideration  paid  or  contributed,  directly  or  indi- 
rectly, or  used  or  offered  or  agreed  to  be  paid  in  aid  of  any 
political  party,  company  or  organization,  or  for  and  in  aid  of 
any  corporation,  joint  stock  or  other  organization  organized  or 
maintained  for  political  purposes  or  for  or  in  aid  of  anv  can- 
didates for  political  office,  or  for  nomination  for  such  office,  or 
for  the  reimbursement  or  indemnification  of  any  person  for 


1953d  '  LIFE  COMPANIES.  132 

property  so  used;  the  names  and  address  of  partie?i,  companies 
or  organizations  to  whom  naid,  the  time,  place  and  amount  so 
disbursed  or  paid,  and  that  such  disbursements  have  been  truly 
entered  upon  the  books  of  the  company,  together  with  such 
other  information  in  relation  thereto,  as  the  commissioner  of 
insurance  may  require. 

1953e  (Ch.  131,  1907.) 

Legislative  expenditures,  statement  required. 

Section  1953e.  As  a  condition  precedent  to  the  issuing  of 
a  license  to  transact  life  insurance  business  in  this  state,  every 
life  insurance  company  shall  file  with  the  commissioner  of  in- 
surance a  statement  verified  by  its  president  and  secretary, 
setting  forth  a  schedule  showing  in  detail;  (a)  the  bills  opposed 
or  promoted  by  it  during  the  preceding  year;  (b)  the  state  in 
which  such  legislation  was  pending;  (c)  names  and  addresvses 
of  parties  engaged  as  counsel  or  otherwise;  (d)  the  considera- 
tion paid  each  of  them;  (e)  and  the  expenses  of  advertising, 
traveling,  etc.,  and  to  whom  paid;  (f)  and  that  such  disburse- 
ments and  expenses  have  been  truly  entered  upon  the  books  of 
the  company,  together  with  such  other  information  in  rela- 
tion thereto,  as  the  commissioner  of  insurance  may  require. 

1953n  (Ch.  584,  1907;  ch.  295,  1911,  in  effect  June  9,  1911.) 
Reports,  annual.     Gains  and  losses,  unlicensed  companies, 
penalties. 

Section  1953n  1.  Every  life  insurance  company  doing  bus- 
iness in  this  state,  or  having  in  force  any  policies  issued  or  de- 
livered therein,  shall  on  or  he  fore  the  first  day  of  March  in  each 
year  file  in  the  office  of  the  commissioner  of  insurance  the  annual 
statement  *  *  *  required  by  section  1954  and  include  as  a 
part  thf:reof  an  exhibit  of  the  aains  and  losses  *  *  *  sepa- 
rately for  its  participatincr  and  non-particinating  business  and 
its  ordinary  and  industrial  business,  and>  *  .  *  *  separately 
«><?  to  each  for  the  fir-st  year's  "'"usiness  and  for  the  total  business 
of  the  company. 

2.  Such  statement  shall  he  upon  or  in  conformity  with  blanks 
Drepared  by  the  commissioner  in  substantially  the  form  hereto- 
fore renuired. 

3.  Where  a  separate  account  of  any  items  required  on  such 
statement  shall  not  be  kept  as  to  the  participating  and  non- 
participating  or  ordinary  and  industrial  business  of  any  com- 
r>any,  such  statement  shall  state  what  proportion  of  such  itemg 
is  apportioped  to  ^f^dk  Wild  of  si;cl;  business. 


133  LIFE  COMPANIES.  1952ti 

4.  Such  company  shall  also  furnish  such  other  information  in 
regard  to  said  matters  as  the  commissioner  of  insurance  may 
require. 

5.  Provided  that  any  such  company  theretofore  licensed  in  thib 
state  but  not  licensed  therein  at  the  time,  in  lieu  of  filing  the  an- 
nual statement  required  by  subsection  1  hereof,  may  file  the  an- 
nual statement  required  by  the  law  in  force  in  this  state  during 
the  year  preceding  the  last  year  during  which  such  company  was 
so  licensed. 

6.  Every  such  company  f wiling  to  file  every  such  statement  at 
the  time  required  by  law  shall  forfeit  five  hundred  dollars  and 
an  additional  five  hundred  dollars  for  each  month  elapsing  there- 
after while  such  company  shall  have  in  force  any  policies  issued 
or  delivered  in  this  state  until  such  statement  be  filed. 

7.  Every  such  company  and  every  such  officer,  agent,  or  em- 
ploye thereof,  wilfully  making  any  false  statement  in  any  such 
statement,  shall  forfeit  five  hundred  dollars. 

1954  (1898;  ch.  237,  1903;  ch.  597,  1907.) 

Annual  report;  contents;  publication;  forfeiture. 

Section  1954.  Every  life  insurance  company  doing  business 
in  this  state  shall  on  or  before  the  first  day  of  March  in  each 
year,  file  in  the  ofiice  of  the  commissioner  of  insurance  an  annual 
statement  giving  a  complete  and  accurate  exhibit  of  its  business 
and  financial  condition  signed  and  verified  by  the  affidavits  of 
the  president  and  secretary,  or  if  a  foreign  corporation  by  its 
resident  managing  officer  in  the  United  States,  and  covering  the 
year  ending  on  the  preceding  thirty-first  day  of  December,  and 
its  business  for  that  year,  and  exhibiting  the  following  facts 
and  items : 

(1)  The  name  of  the  company. 

(2)  Where  located. 

(3)  When  incorporated  and  for  what  period. 

(4)  Amount  of  capital  stock  or  guaranty  fund. 

(5)  All  the  real  property  held  by  the  corporation,  the  dates 
of  acquisition,  the  names  of  the  vendors,  the  actual  cost,  the 
value  at  which  it  is  carried  on  the  company's  books,  the  market 
value,  the  amounta  expended  during  the  year  for  repairs  and 
improvements,  the  gross  and  net  income  from  each  parcel,  and 
if  any  portion  thereof  be  occupied  by  the  company  the  rental 
value  thereof,  a  statement  of,  and  all  purchases  and  sales  made 
since  the  last  annual  statement,  with  particulars  as  to  dates, 
names  of  vendors  and  vendees,  and  the  consideration. 

v6)  The  amount  of  existing  loans  upon  the  security  of  real 
property  in  each  state  and  foreign  country. 


Id54  LIFE  COMPANIES.  1^4 

(7)  The  moneys  loaned  by  the  corporation  to  any  person 
other  than  loans  upon  the  security  of  real  property  above  men- 
tioned and  other  than  loans  upon  policies  the  actual  borrowers 
thereof,  the  maturity  and  rate  of-  interest  of  such  loans,  the 
securities  held  therefor,  and  all  substitutions  of  securities  in 
connection  therewith,  and  the  same  particulars  with  reference 
to  any  loans  made  or  discharg-ed  since  the  last  annual  statement. 

(8)  All  other  property  owned  by  the  company  or  in  which 
it  has  any  interest  (including  all  securities,  whether  or  not 
recognized  by  the  law  as  proper  investments),  the  dates  of 
acquisition,  from  whom  acquired,  the  actual  cost,  the  value  at 
which  the  property  is  carried  upon  the  books,  the  market  value, 
the  interest  or  dividends  received  thereon,  during  the  year; 
also  all  purchases  and  sales  of  property  other  than  real  estate 
made  since  the  last  annual  statement,  with  particulars  as  to 
dates,  names  of  purchasers  and  sellers,  and  the  consideration; 
and  also  the  income  received  and  outlays  made  in  connection 
with  all  such  property. 

(9)  Cash  in  office  and  in  bank. 

(10)  Premium  notes  and  loans  on  policies  in  force. 

(11)  Outstanding  and  deferred  premiums  on  policies  in  force. 

(12)  All  other  loans,  investments  and  property. 

(13)  All  outstanding  losses  and  policy  claims. 

(14)  All  other  liabilities  and  claims  against  the  company. 

(15)  Cash  received  for  premiums. 

(16)  Cash  received  for  interest  and  rents. 

(17)  Income  from  all  other  sources. 

(18)  Paid  for  losses  and  claims. 

(19)  Dividend  of  surplus  to  policyholders. 

(20)  Paid  for  expenses. 

(21)  All  other  expenditure. 

(22)  All  commissions  paid  to  any  persons  in  connection  with 
loans  or  purchase  or  sales  of  any  property  and  a  statement  of 
all  payments. for  legal  expenses,  giving  particulars  as  to  date, 
amounts  and  names  and  addresses  of  payees. 

(23)  All  moneys  expended  in  connection  with  any  matter 
pending  before  any  legislative  body  or  any  officer  or  depart- 
ment of  government,  giving  particulars  as  to  dates,  amounts, 
names  and  addresses  of  payees,  the  measure  or  proceeding  in 
connection  with  w^hich  the  payment  was  made,  and  the  interest 
of  the  corporation  therein. 

(24)  The  names  of  the  officers  and  directors  of  the  company, 
the  proceedings  at  the  last  annual  election,  giving  the  names 
of  candidates  and  the  number  of  votes  cast  for  each  and  whether 
in  person,  by  proxy  or  by  mail. 


1S5  LIFE  COMPANIES.  1954 

(25)  The  salary,  compensation  and  emoluments  received  by 
officers,  directors  or  employees  and  where  the  same  amounts  to 
iriore  than  three  thousand  dollars,  also  salary,  compensation  and 
emoluments  of  three  thousand  dollars  or  over  received  by  any 
person,  firm  or  corporation,  with  particulars  as  to  dates,  payees 
and  the  authority  by  which  the  payment  was  made;  also  all 
salaries  paid  to  any  representative  either  at  the  home  office,  or 
at  any  branch  office,  or  agency,  or  agency  supervision,  also  the 
commissions  received  by  each  general  agent  stated  separately 
as  to  first  year  and  renewal  commissions,  the  amount  paid  to 
sub-agents,  the  amount  paid  out  in  expenses  of  the  agency  and 
the  net  compensation  of  the  general  agent. 

(26)  The  largest  balances  carried  in  each  bank  or  trust  com- 
pany during  each  month  of  the  j^ear. 

(27)  All  death  claims  resisted  or  compromised  during  the 
year,  with  particulars  as  to  sums  insured,  sums  paid  and  reasons 
assigned  for  resisting  or  compromising  the  same  in  each  case. 

(28)  The  rates  of  annual  dividends  declared  during  the  year, 
precise  methods  and  factors  by  which  such  dividends  have  been 
declared. 

(29)  A  statement  of  any  and  all  reserve  or  surplus  funds 
held  by  the  company  and  for  what  purpose  they  are  claimed 
respectively  to  be  held. 

(80)  Number  and  amount  of  policy  loans  and  rates  of  inter- 
est charged  on  such  loans. 

(31)  Number  of  policies  and  amount  of  insurance  lapsed  on 
which  loans  had  been  granted,  giving  net  value  of  policies  and 
amount  of  loans. 

(32)  Amount  separately  paid  insurance  departments  for  ex^ 
amination  and  valuation  fees  and  all  other  payments  not  in- 
cluding statutory  fees,  licenses  and  taxes  payable  to  the  various 
states. 

(33)  Amount  of  statutory  fees,  licenses  and  taxes  paid  for 
privilege  of  transacting  business,  separately :  Company  licenses, 
agents'  licenses,  filing  and  department  fees,  advertising,  retali- 
atory taxes,  state  taxes  on  premiums  or  income,  local  license  or 
privilege  tax. 

(34)  Number  and  amoun^  of  Wisconsin  policy  loans. 
(Section  1954.)      (35)  Number  and  amount  of  loans  on  Wis- 
consin real  estate!     *     *     * 

Section  1954  is  referred  to  in  1953n. 

1955 

Revocation  of  license. 
Section  1955.     If  any  such  corporation  shall  violate  or  fail 
to  comply  with  any  provision  of  law  applicable  thereto  or  in 


19S5  LIB^EJ  COMPANIES.  136 

case  its  capital  shall  be  impaired  and  shall  not  be  made  good 
within  such  time  as  the  commissioner  of  insurance  shall  re- 
quire, according  to  section  1968,  it  shall  be  the  imperative  duty 
of  said  commissioner  to  revoke  any  and  every  authority,  license 
or  certificate  granted  to  such  corporation  or  any  agent  thereof 
to  transact  business  in  this  state,  and  no  such  corporation  or 
agent  thereof  shall  thereafter  transact  any  business  of  insur- 
ance in  this  state  till  again  duly  licensed,  and  shall  give  notice 
thereof  as  required  in  the  case  of  fire  insurance  corporations. 

1955a— 1  (Ch.  56,  1903;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Single  risk  not  to  exceed  one  tenth  of  assets. 
Section  1955a — ^1.  No  casualty  or  accident  insurance  com- 
pany, association,  society,  order  or  corporation  organized  under 
section  1955a  *  *  *  and  no  such  company,  association,  so- 
ciety, order  or  corporation,  now  or  at  any  time  hereafter  trans- 
acting business  within  this  state,  shall  assume  a  greater  liabil- 
ity in  its  contracts  of  insurance  to  any  one  person,  payable  in 
case  of  death  of  the  assured,  than  one-tenth  of  the  amount  of 
its  assets  reported  to  the  commissioner  of  insurance,  and  in  ac- 
tual existence  at  the  time  of  the  last  preceding  annual  report  to 
the  said  commissioner  of  insurance. 


1955b— 5  (Ch.  158,  1909,  in  effect  May  19,  1909.) 

Mutual  benefit  societies ;  articles,  amendment,  notice. 

Section  1955b — 5.  The  articles  of  organization  of  any  fra- 
ternal or  beneficiary  corporation,  society,  order,  or  association 
may  be  amended  as  prescribed  herein,  whether  organized  under 
this  chapter  or  chapter  86  of  the  statutes.  In  case  of  any  cor- 
poration having  subordinate  lodges  or  other  denominated  di- 
visions, after  the  proposed  amendment  has  been  filed  with  the 
department  or  departments  where  the  original  articles  are  filed 
and  a  copy  thereof  with  notice  of  the  manner  and  the  time  and 
place  of  voting  has  been  mailed  to  each  member  at  least  thirty 
days  prior  thereto,  the  vote  on  such  amendment  may  be  taken 
at  the  usual  meeting  place  of  such  lodges  or  other  denominated 
divisions  and  the  results  returned  and  canvassed  in  such  uni- 
form manner  as  the  board  of  directors  or  other  governing  of- 
ficers with  like  powers  may  prescribe  in  such  notice.  The  time 
and  place  of  voting  may  be  specified  by  referring  generally  to 
a  stated  meeting  of  such  subordinate  lodge  or  other  denomi- 
nated division  in  such  manner  as  to  fully  inform  the  members. 


137  LIFE  COMPANIES.  1955o 

19550  (1898;  ch.  504,  1907.) 

Discdmination,  life  insurance. 
Section  1955o.  1.  No  life  insurance  company  doings  busi- 
ness in  this  state  shall  make  or  permit  any  distinction  or  dis- 
crimination in  favor  of  .individuals  between  insurants  of  the 
same  class  and  equal  expectation  of  life  in  the  amount  or  pay- 
ment of  premiums  or  rates  charged  or  in  any  return  of  pre- 
mium, dividends  or  other  advantages. 

19550  (2a,  b,  c)   (1898;  Ch.  504,  1907;  ch.  270,  1911,  in  effect 
June  8,  1911.) 
Contract  other  than  policy  prohibited,  rebating,  commis- 
sion own  risk. 

(Section  1955o)  2.  a.  No  *  *  *  insurance  company  or 
any  agent  thereof  shall  make  any  contract  or  agreement  as  to 
such  contract  other  than  as  plainly  expressed  in  the  policy  is- 
sued pursuant  thereto.     *     *     * 

b.  No  insurance  company,  or  any  officer,  agent,  director  or  em- 
ploye thereof,  doing  husiness  in  this  state,  shall  pay,  *  *  * 
allow  or  give  or  offer  to  pay,  *  *  «=  allow  or  give,  nor  shall 
any  person  receive,  any  rebate  of  premium  payable  on  the  pol- 
icy, or  any  special  favor  or  advantage  whatever  in  the  dividends 
or  other  benefits  to  accrue  thereon,  or  any  valuable  considera- 
tion or  inducement  whatever  not  specified  in  the  policy. 

c.  No  person  shall  as  agent  receive  any  compensation  for  effect- 
ing insurance  upon  his  own  property,  life  or  other  risk,  unless 
during  the  twelve  months  preceding,  as  the  agent  for  the  company 
assuming  such  risk,  he  shall  have  effected  other  ins^irance  therein, 
the  premium  on  which  shall  exceed  the  premium  ^^n  the  insurance 
so  effected  on  his  own  risk. 

19550  (2d)  (Ch.  311,  1911,  m  effect  June  10,  1911.) 
Commissions  to  domestic  corporation,  exceptions. 

(Section  1955o)  2.  d.  This  section  shall  noc  prevent  the  pay- 
ment of  the  whole  or  any  part  of  any  commission  to  a  domestic 
corporation,  except  that  no  commission  shall  be  so  paid  where 
any  officer,  employe  or  stockholder  of  such  corporation  shall  be 
interested  in  the  property  or  risk,  the  insurance  on  which  pro- 
duces such  commission,  otherwise  than  as  an  agent  authcrized 
under  section  1976. 

1955o  (2e)   (Ch.  270,  in  effect  June  8,  1911.) 
Division  of  commissions  by  agents. 

e.  Any  agent  may  pay  the  whole  or  any  part  of  his  commis- 
sions to: 

(1)  An  agent,  other  than  a  life  agent,  holding  a  csrtificaie  of 


19550   (2e)  LIFE  COMPANIES.  138 

authority  under  section  1976  for  writing  the  hind  of  insurance  for 
ivhich  such  commissions  are  paid. 

(2)  A  nonresident  insurance  agent,  or  any  insurance  company 
authorized  in  this  state,  as  to  insurance  upon  property  owned  hy 
nonresidents  or  located  wholly  outside  of  this  state. 

(3)  A  nonresident  agent  of  the  fidelity  or  surety  company  pay- 
ing such  commissions.  Except  as  aforesaid,  no  agent  shall  p<iy 
the  whole  or  any  part  of  the  commissions  upon  any  policy  to  any 
other  person. 

19550  (2f)  (Ch.  270,  1911,  in  effect  June  8,  1911.) 
Dividends  not  contracted  for,  Schedules. 

/.  Provided,  that  any  company  may  make  distrihution  of  sav- 
ings, earnings  or  surplus  to  any  class  of  policyholders,  witJiout 
having  specified  such  dividends  or  distribution  in  the  policy, 
where  a  schedule  is  first  filed  with  the  commissioner  of  insurance. 

19550  (2h)  (Ch.  270,  1911,  in  effect  June  8,  1911.) 

Information,  advice  or  service  to  reduce  risk  not  rebate. 

h.  Provided,  that  the  furnishing  of  information,  advice  or  serv- 
ice hy  any  company,  officer,  agent,  director  or  employe  thereof, 
with  regard  to  any  risk  or  for  the  purpose  of  reducing  the  loss  or 
liahility  to  loss,  shall  not  he  a  violation  of  this  section. 

19550  (3)  (1898;  ch.  504,  1907;  chs.  270  and  664,  1911,  in  effect 
June  8  and  July  22,  1911.) 
Advisory  board  and  contracts  for  service  or  stock  prohib- 
ited. 
3.  No  *  *  *  insurance  company  or  any  agent  thereof 
shall  at  the  time  of  soliciting-  insurance  or  issuing  a  policy,  or 
at  any  time  in  consideration  of  or  in  connection  with  a  policy 
issued  or  proposed  to  be  issued,  make  or  offer  to  make  any  con- 
tract or  agreement  whatever  for  any  deduction  from  any  pre- 
mium or  any  addition  to  any  dividend  or  other  benefit  whatever, 
on  account  of  services  rendered  or  to  be  rendered  by  the  ap- 
plicant for  the  policy  or  any  person  interested  therein,  either  as 
an  advisor  of  the  company  or  as  a  member  of  an  advisory  or 
similar  board  or  body  or  in  any  other  capacity  or  manner  what- 
ever; nor  contract  for,  sell  or  offer  for  sale  any  stock  of  such 
*  *  *  insurance  company  or  any  stocks,  bonds  or  other 
certificates  representing  any  interest  or  property  in  any  or- 
ganized company  or  corporation  which  shall  at  the  time  be  un- 
der any  contract  or  agreement  whatever  with  such  *  '»  * 
insurance  company,  or  own  or  control  any  of  the  stock  thereof, 
or  in  any  case  w^here  any  part  of  the  stocks,  bonds  or  certifi- 


139  LIFE  COMPANIES.  1955o  (3) 

cates  of  indebtedness  of  such  company  or  corporation  shall  be 
owned  or  held  by  such  *  *  *  insurance  company.  No  per- 
son shall  so  contract  with  any  such  company  or  agent  thereof, 
or  receive  any  such  favor,  privilege  or  advantage  whatever, 
within  the  meaning  of  this     *     *     *     section. 

19550  (4a)  (Ch.  270,  1911,  in  effect  June  8,  1911.) 
Policy  void  in  proportion  to  rebate. 

4.  a.  Notwithstanding  any  violation  of  this  section  the  policy 
shall  he  valid,  hut  the  insured,  having  knowingly  and  wilfully 
violated  any  provision  of  this  section,  shall  he  entitled  to  recover 
from  the  company  only  such  proportion  of  the  amount  otherwise 
payable  under  the  policy  or  contract  of  insurance  as  the  amount 
of  the  premium  or  premiums  which  have  hecome  payable,  accord- 
ing to  the  teims  of  the  policy,  deducting  any  rebate  and  the  value 
of  any  special  favor  or  advantage  or  consideration  or  inducement 
in  violation  of  this  section,  hears  to  the^apimmt  of  such  premium 
or  premiums. 

19550  (4b)   (1898;  ch.  504,  1907;  ch.  270,  1911,  in  effect  June 
8,  1911.) 
Penalty,  fine,  imprisonment. 
h.  Any  company,  officer,  director,  agent  or  employe  thereof 
violating  this  section  and  any  other  person  knowingly  and  wil- 
fully    *     *     *     violating  this  section  shall  be  punished  by  a 
fine  of  not  less  than  fifty  dollars  nor  more  than  three  hundred 
dollars,  or  by  imprisonment  in  the  county  jail  for  a  term  not 
exceeding  six  months,  or  by  both  such  fine  and  imprisonment. 

19550  (5)  (1898;  ch.  504,  1907.) 

License,  revocation. 
,  5.  Whenever  it  shall  appear  to  the  satisfaction  of  the  com- 
missioner of  insurance  after  a  hearing  before  him  upon  notice, 
that  any  company,  officer,  agent,  sub-agent,  helper's  agent, 
broker  or  solicitor  has  violated  any  provision  of  this  section,  he 
shall  revoke  the  license  of  any  such  company  or  person  to  trans- 
act business  in  this  state,  and  no  other  license  shall  be  issued  to 
any  such  company  or  person  within  three  years  after  such  re- 
vocation. 

Section  1955o   (5)  is  referred  to  in  1919c. 

19550  (5m)  (Ch.  310,  1911,  in  effect  June  8,  1911.) 
Effect  of  revocation  of  license. 
(Section  1955o)     5m.  The  commissioner  of  insurance  may  in 
his  order  of  revocation  of  the  license  of  any  officer,  agent,  sub- 
agent,  helper's  agent,  broker  or  solicitor  fix  a  less  time  thai^  saic) 


19550  (5m)  LIFE  COMPANIES.  140 

three  years,  but  not  less  than  six  months  after  such  revocation 
for  the  withholding  of  any  license  from  such  person. 

19550  (6)  (1898;  ch.  504,  1907.) 

Commissioner's  demand  for  forms;  service,  forfeiture. 

6.  Any  such  corporation,  company,  officer  or  agent  of  such 
corporation  or  company  shall  upon  demand  in  writing  by  tho 
commissioner  of  insurance,  furnish  said  commissioner  with  the 
form  or  forms  of  all  insurance  policies,  the  form  or  forms  of  all 
contracts  for  insurance  and  the  form  or  forms  of  any  other 
paper  or  papers  pertaining  to  any  contract  of  insurance  or  the 
maintenance  of  the  same,  issued  or  used  or  authorized  to  be 
issued  or  used  by  said  corporation  or  company  or  by  its  agents 
or  representatives  in  or  about  the  business  of  life  insurance  car- 
ried on  by  said  corporation  or  company.  Upon  the  failure  on 
the  part  of  such  corporation  or  company  or  its  agents  or  repre- 
sentatives to  fully  comply  with  such  demand,  within  a  period  of 
fifteen  days  after  the  service  of  the  same,  the  commissioner  shall 
forthwith  revoke  the  authority  of  such  corporation  or  company, 
or  the  license  of  such  agent  to  do  business  in  this  state.  Serv- 
ice of  such  demand  upon  an  agent  of  such  corporation  or  com- 
pany within  this  state,  or  a  deposit  of  the  same  registered  and 
addressed  to  the  home  office  of  such  corporation  or  company 
shall  be  sufficient  service. 

19550  (7)  ^  r    ;.-    -r-n 

Self -criminating  testimony  compelled. 

7.  No  person,  officer  or  agent  of  any  corporation  within  the 
purview  of  this  act  shall  be  excused  from  attendance,  testifying 
or  producing  books,  papers,  contracts,  agreements  or  documents 
or  privileged  from  testifying  in  relation  to  anything  herein  pro- 
hibited before  the  commissioner  of  insurance  or  any  court,  or 
in  obedience  to  the  subpoena  of  any  court  having  jurisdiction- 
of  the  offense  herein  prohibited,  on  the  ground  or  for  the  rea- 
son that  the  testimony  or  evidence,  documentary  or  otherwise 
required  of  him.  may  tend  to  criminate  him  or  subject  him  to 
a  penalty  or  forfeiture. 

19550  (8)  •  )    r    r   - 

Inamunity,  save  for  perjury. 

8.  But  no  person  shall  be  liable  in'  any  suit  or  prosecution, 
civil  or  criminal,  for  or  on  account  of  any  transaction,  matter 
or  thing  concerning  which  he  may  testify  or  produce  evidence, 
documentary  or  otherwise  before  said  commissioner  or  said 
court,  or  in  obedience  to  the  subpoena  of  said  court  or  the  de- 


141  ASSESSMENT  LIFE  COMPANIES.  1955o  (8) 

mand  of  said  commissioner  or  in  any  such  case  or  procedure; 
provided  that  no  person  so  testifying  or  producing  such  books, 
papers,  contracts,  agreements  or  documents  shall  be  exempt 
from  prosecution  and  punishment  for  perjury  committed  in  so 
testifying.  , 

Evidence  barred  after  death  of  insured. 

9.  No  evidence  of  any  violation  of  the  provisions  of  this  sec- 
tion shall  be  received  in  any  action  brought  against  the  company 
upon  any  policy  after  the  death  of  the  insured. 

Section  1955o  is  referred  to  in  section  1943  1. 

19550—5  (Ch.  438,  1907.) 

Penalty  for  violation  of  insurance  laws. 
Section  1955o — 5.  Any  corporation  violating  any  of  the  pro- 
visions of  the  laws  of  this  state  relating  to  insurance  shall, 
where  no  other  penalty  is  prescribed,  be  punished  by  a  fine  of 
not  more  than  five  thousand  dollars  and  any  person  violating 
any  of  the  provisions  of  the  laws  of  this  state  relating  to  in- 
surance shall,  where  no  other  penalty  is  prescribed,  be  pun- 
ished by  a  fine  of  not  more  than  one  thousand  dollars,  or  by 
imprisonment  in  the  county  jail  not  exceeding  one  year,  or  by 
both  such  fine  and  imprisonment. 


ASSESSMENT  LIFE  COMPANIES. 

1955y_l  (Ch.  447,  1907.) 

New  assessment  life  companies  not  admitted;  valuations. 

Section  1955y — 1.  No  life  insurance  company  ,or  associa- 
tion, other  than  fraternal  beneficiary  associations,  which  issue 
contracts,  the  performance  of  which  is  contingent  upon  the 
payment  of  assessments,  or  calls  made  upon  its  members,  shall 
do  business  within  this  state  except  such  companies  or  associ- 
ations as  are  now  authorized  to  do  business  within  this  state 
and  which  shall  value  their  assessment  policies  or  certificates 
of  membership  as  yearly  renewal  term  policies  according  to  the 
standard  valuation  of  life  insurance  policies  prescribed  by  the 
laws  of  this  state. 

1955y— 1  (2,  3,  4)  (Ch.  265,  1911,  in  effect  June  6,  1911.) 
Valuation,  credit  and  statement  to  policyholders. 
2.  a.  Provided,  that  where  the  stipulated  premium  or  periodi- 
cal call  upon  the  members  of  any  domestic  or  foreign  company 


1955y— 1   (2,3,4)        ASSESSMENT  LIFE  COMPANIES.  142 

shall  exceed  the  net  one-year  term  premium  according  to  the 
mortality  table  used  in  computing  or  establishing  said  premiums 
or  periodical  calls,  or  the  American  Experience  Mortality  Table, 
if  none  has  been  used,  and  interest  at  a  rate  not  exceeding  four 
per  cent  per  annum,  the  members  shall  be  credited  with  the 
premiums  paid,  together  with  interest  thereon,  at  such  rate,  as 
nearly  as  may  be  practicable,  as  the  company  may  have  earned 
from  year  to  year,  legs  the  policy-holder's  share  of  losses  and 
expenses.  ,  '      .    ,    i :    !,i*  j^UJ 

b.  Said  losses  shall  be  actuarially  computed  in  accordance 
with  the  mortality  table  used  in  computing  the  premium  rates 
as  aforesaid,  with  due  allowance  for  any  savings  on  account  of 
favorable  mortality  experience. 

e.  The  values  or  equities  so  determined  shall  be  carried  to  the 
credit  of  the  individual  members,  and  in  case  of  lapse  of  any 
policy  hereafter  issued  in  this  state,  the  amount  shall  be  applied 
as  a  net  single  premium  to  purchase  extended  insurance  for  a 
term  computed  upon  the  table  of  mortality  and  rate  of  interest 
aforesaid. 

3.  Every  such  company  shall  hold  assets  sufficient  to  meet  its 
liabilities  on  account  of  all  values  of  policies  as  ascertained  un- 
der this  section,  in  addition  to  all  other  liabilities. 

4.  A  statement  of  the  credits  to  any  policy-holders  shall,  after 
the  year  1911,  be  furnished  to  any  such  policy-holder  upon  re- 
quest. 

1955y_2  (Ch.  447,  1907.) 

Assessment  life  companies ;  organization ;  valuation. 

Section  1955y — 2.  1.  Any  existing  domestic  assessment 
company  or  association  may,  with  the  written  consent  of  the 
insurance  commissioner  of  this  state,  upon  a  majority  vote  of 
its  trustees  or  directors,  amend  its  articles  of  incorporation  and 
by-laws  in  such  manner  as  to  transform  itself  into  a  legal  re- 
serve or  level  premium  company,  and  upon  so  doing  and  upon 
procuring  from  the  insurance  commissioner  a  certificate  of  au- 
thority, as  provided  by  law  to  transact  business  in  this  state 
as  a  legal  reserve  or  level  premium  company,  shall  incur  the 
obligations  and  enjoy  the  benefits  thereof,  the  same  as  though 
originally  thus  incorporated,  and  such  corporation,  under  its 
charter  as  thus  amended,  shall  be  a  continuation  of  such  original 
corporation,  and  the  officers  thereof  shall  serve  through  their 
respective  terms  as  provided  in  the  original  charter,  but  their 
successors  shall  be  elected  and  serve  as  in  such  amended  arti- 
cles provided ;  but  such  amendment  or  reincorporation  shall  not 
affect  existing  suits,  rights  or  contracts. 


14S  ASSESSMENT  LIFE  COMPANIES.  1955y— 2 

2.  Any  assessment  company  reincorporated  to  transact  life 
insurance  business,  shall  value  its  assessment  policies  or  cer- 
tificates as  yearly  renewal  term  policies  according  to  the  stand- 
ard of  valuation  of  life  insurance  policies  prescribed  by  the 

laws  of  this  state. 

*     #     * 

Section  1955 — 1  is  referred  to  in  section  1220. 

1955— 7a  (Ch.  221,  1901.) 
Investment  of  funds. 

(Sec.  1,  chapter  270  of  the  laws  of  Wisconsin  for  the  year 
1899  is  hereby  amended  by  adding  a  new  section  to  be  known 
as  section  7a  and  to  read  as  follows :  Section  7a.  Investment 
of  funds.) 

Section  1955 — 7a.  Any  such  corporation,  company  or  as- 
sociation organized  under  the  laws  of  this  state  may  invest  its 
funds  and  accumulations  in  the  bonds  of  the  United  States  or 
of  this  state  or  of  any  city,  town  or  village  therein,  or  in  first 
mortgages  upon  real  estate  worth  at  least  twice  the  sum  loaned, 
or  in  first  mortgage  bonds  of  any  steam  or  electric  railway, 
electric  light  or  gas  company  incorporated  under  the  laws  of 
this  state,  or  upon  promissory  notes  secured  by  pledge  of  any 
such  bonds  or  mortgages,  or  in  like  securities  of  other  states 
under  the  same  restrictions  as  in  this  state,  or  upon  its  own  poli- 
cies as  security  to  the  amount  of  the  reserve  provided  thereon 
or  in  such  other  investments  or  securities  as  the  commissioner 
of  insurance  may  approve,  and  may  exchange  outstanding  pol- 
icies or  certificates  for  stipulated  premium  policies  and  provide 
for  the  reserve  in  whole  or  in  part  by  lien  or  loan  on  such  new 
policies.  Any  such  corporation  may  buy  and  hold  real  estate 
for  home  office  purposes,  sell  and  convey  the  same  or  any  real 
estate  required  by  foreclosure  or  received  in  satisfaction  of 
loans. 


REINSURANCE;  DOMESTIC  LIFE,  ACCIDENT  OR  HEALTH 

COMPANIES. 

1955—21  (Sec.  1,  ch.  170,  1905.) 

Scope  of  enactment;  exception,  single  risk. 
Section  1955 — 21.  No  company  organized  under  the  laws  of 
this  state  to  do  the  business  of  life,  accident  or  health  insurance, 
either  on  the  stock,  mutual  stipulated  premium,  assessment,  or 
fraternal  plan,  shall  consolidate  with  any  other  company,  or 
reinsure  risks,  or  any  part  thereof  with  any  other  company, 


1955—21  PETITION,    HEARING.  144 

or  assume  or  re-insure  the  whole  of,  or  any  portion  of  the  risks 
of  any  other  company,  except  as  hereinafter  provided ;  but 
nothing  herein  contained  shall  prevent  any  such  company,  or- 
ganized on  the  stock  or  mutual  plan,  from  re-insuring  a  frac- 
tional part  of  any  single  risk. 
See  section  1914a. 

1955—22  (Sec.  2,  ch.  170,  1905.) 
Petition  to  commissioner. 

Section  1955 — 22.  When  any  such  company  shall  propose 
to  consolidate  with  any  other  company,  or  to  enter  into  any 
contract  of  re-insurance,  it  shall  present  its  petition  to  the  com- 
missioner of  insurance  of  this  state,  setting  forth  the  terms  and 
conditions  of  such  proposed  consolidation  or  re-insurance,  and 
praying  for  the  approval  or  of  any  modification  thereof,  which 
the  commissioner  hereinafter  provided  for  may  approve. 

Section  1955 — 22  is  referred  to  in  1955— 23m. 

1955—23  (Sec.  3,  ch.  170,  1905;  ch.  57,  1911,  in  effect  May  4, 
1911.) 
Notice  to  policyholders. 

Section  1955 — ^23.  The  commissioner  of  insurance  shall 
thereupon  issue  an  order  *  *  *,  requiring  notice  to  be 
given  by  mail  to  each  policy  holder  of  such  company,  *  *  * 
of  such  petition,  and  the  time  and  place  at  which  hearing  there- 
on will  be  held,  and  shall  publish  the  said  *  *  *  notice 
*  *  *  in  at  least  two  *  *  -^  newspapers,  *  *  *,  once  in 
each  week,  for  at  least  two  weeks  before  the  time  appointed  for 
the  hearing  upon  said  petition. 

Section  1955 — 23  is  referred  to  in  sec.  1955 — 23m. 

1955— 23m  (Ch.  33,  1909,  in  effect  April  2,  1909.) 

Re-insurance ;  disability  company ;  notice ;  hearing. 
Section  1955 — 23m.  In  lieu  of  proceeding  under  sections 
1955 — 22  and  1955 — 23,  any  accident  or  health  company,  may 
consolidate  and  enter  into  a  contract  of  re-insurance  with  any 
other  company  by  filing  with  the  commissioner  of  insurance  a 
copy  of  such  contract  and  all  papers  relating  thereto,  which 
consolidation  and  re-insurance  shall  take  effect  upon  such  filing 
and  the  mailing  to  each  person  holding  a  policy  so  re-insured  a 
notice  thereof.  Provided,  that  if  the  holders  of  not  less  than 
five  per  cent  of  such  policies  so  re-insured  shall  within  thirty 
days  thereafter  file  a  petition  with  the  commissioner  of  insur- 
ance for  a  hearing  on  the  question  of  such  re-insurance,  the  com- 
missioner shall,  and  without  such  petition  may,  order  a  hearing 
as  proft^ided  in  section  1955 — 24,  notice  of  which  shall  be  given 
by  the  company  by  mail  to  each  holder  of  such  policy,  so  re-in- 


145  PETITION,  HEARING.  1&55— 22m 

sured  at  least  ten  days    before    such  hearing,  and  thereupon 
proceedings  shall  be  had  as  provided  in  sections  1955 — 24  and 
1955—25. 
,      Section  1955 — 23m  is  referred  to  in  section  1955 — 25. 

1955—24  (Sec.  4,  ch.  170,  1905.) 
Commission  to  hear  petition. 

{Section  1955 — 24.  The  governor,  or  in  event  of  his  inability 
to  act,  some  competent  person  resident  of  the  state  to  be  ap- 
pointed by  him,  the  attorney  general,  and  the  commissioner  of 
insurance  of  the  state,  shall  constitute  a  commission  to  hear  and 
determine  upon  said  petition.  At  the  time  and  place  fixed  in 
said  notice,  or  at  such  time  and  place  as  shall  be  fixed  by  ad- 
journment, the  cominission  shall  proceed  with  the  hearing,  and 
may  make  or  order  such  exammation  into  the  affairs  ana  con- 
dition of  such  company  as  it  may  deem  proper.  The  commis- 
sioner of  insurance  shall  have  the  power  to  summon  and  compel 
the  attendance  and  testimony  of  witnesses  and  the  production 
of  books  and  papers  before  said  commission.  Any  policyholder 
or  stockholder  of  the  company  or  companies  so  petitioning  may 
appear  before  said  commission  and  be  heard  in  reference  to  said 
consolidation  or  re-insurance.  Said  commission,  if  satisfied,  that 
the  interest  of  the  policyholders  of  such  company  or  companies 
are  properly  protected,  and  that  no  reasonable  objection  exists 
thereto,  may  approve  and  authorize  the  proposed  consolidation 
or  re-insurance,  or  may  modify  or  change  the  terms  and  condi- 
tions thereof  as  may  seem  best  for  the  interests  of  the  policy- 
holders, and  said  commission  may  make  such  order  with  refer- 
ence to  the  distribution  and  disposition  of  the  surplus  assets  of 
any  such  company  thereafter  remaining,  as  shall  be  just  and 
equitable  to  the  policyholders.  Such  consolidation  or  re-insur- 
ance shall  only  be  approved  by  the  consent  of  all  the  members 
of  said  commission,  and  it  shall  be  the  duty  of  said  commission 
to  guard  the  interests  of  the  policyholders  of  any  such  company 
or  companies  proposing  to  consolidate  or  re-insure. 

Section  1955 — 24  is  referred  to  in  section  1955 — 23m. 

1955—25  (Ch.  33,  1909,  in  effect  April  2,  1909.) 

Re-insurance;  disability  company;  expenses;  compensation 

prohibited. 

Section  1955 — 25.     All  actual  expenses  and  costs  incident  to 

proceedings  under  the  provisions  of  this  act  shall  be  paid  by  the 

company  or  companies  bringing  said  petition,  or  effecting  such 

re-insurance,  and  an  itemized  statement  of  the  expenses  and 

costs  shall  be  filed  in  the  department  of  insurance  with  a  certi- 

10— I.  L. 


1955—25  MUTUAL  BENEFIT  SOCIETIES.  146 

fied  copy  of  the  decision  of  Irhe  commission.  Provided,  that  in 
the  discretion  of  the  commission  the  petitioners  under  section 
1955 — 23m  may  be  ordered  to  pay  all  or  a  part  of  such  expenses 
and  costs.  No  officer  of  any  such  company  or  companies,  ex- 
cept as  fully  expressed  in  the  contract  of  re-insurance,  and  no 
member  of  said  commission,  or  employe  of  the  state,  shall  re- 
ceive any  compensation,  gratuity  or  otherwise,  directly  or  in- 
directly for  in  any  manner  aiding,  promoting  or  assisting  in 
such  consolidation  or  re-insurance. 

Section  1955 — 25  is  referred  to  in  section  1955 — 23m. 

1955—26  (Sec.  6,  ch.  170,  1905.) 
Penalty. 
Section  1955 — 26.  Any  officer,  director  or  stockholder  of 
any  such  company  or  companies,  or  any  member  of  such  com- 
mission or  employe  of  the  state,  violating  or  consenting  to  the 
violation  of  the  provisions  of  this  act  shall  be  punished  by  a 
fine  of  not  less  than  ten  thousand  dollars  and  by  imprisonment 
for  not  less  than  one  year,  nor  more  than  ten  years. 

1956  (Chs.  216  and  664,  1911,  in  effect  May  27  and  July  22, 
1911.) 
Fraternal  or  mutual  benefit  society,  definition. 

Section  1956.  1.  Any  corporation,  society,  order,  or  vol- 
untary association,  without  capital  stock,  organized  and  carried 
on  solely  for  the  mutual  benefit  of  its  members  or  their  bene- 
ficiaries, and  having  a  lodge  system  with  ritualistic  form  of 
work  and  representative  form  of  government,  and  which  makes 
provision  for  the  payment  of  death  or  disability  benefits,  or  for 
both,  is  hereby  declared  to  be  a  ^'fraternal  benefit  society," 
which  shall  be  held  to  be  synonymous  with  a  "mutual  benefit 
society."  Domestic  societies  licensed  to  do  business  in  this 
state  as  fraternal  benefit  societies  on  the  first  day  of  May, 
1911,  shall  be  considered  within  this  subsection. 

Section  1956  is  referred  to  in  sec.  1958  (15). 

1956  (2)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Lodge  system,  defined. 
2.  Any  such  society  having  a  supreme  governing  or  legisla- 
tive body,  and  subordinate  lodges  or  branches  by  whatever 
name  known,  into  which  members  shall  be  elected,  initiated,  and 
admitted  in  accordance  with  its  constitution,  laws,  rules,  regu- 
lations and  prescribed  ritualistic  ceremonies,  which  subordinate 
lodges  or  branches  shall  be  required  by  the  laws  of  such  society 
to  hold  regular  or  stated  meetings  at  least  once  in  each  month, 
shall  be  deemed  to  be  operating  on  the  lodge  system. 


1 


147  MUTUAL  BENEFIT  SOCIETIES.  1956  (3) 

1956  (3)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

Representative  form  of  government,  defined,  voting,  proxy, 
.  mail. 

3.  a.  Any  such  society  shall  be  deemed  to  have  a  representa- 
tive form  of  government  when  it  shall  provide  in  its  constitution 
and  laws  for  a  supreme  legislative  or  governing  body,  com 
posed  of  representatives  elected  either  by  the  members  or  by 
delegates  elected  directly  or  indirectly  by  the  members,  to- 
gether with  such  other  members  as  may  be  prescribed  by  its 
constitution  and  laws:  (1)  Provided  that  the  elective  members 
shall  constitute  a  majority  in  number,  and  have  not  less  than 
two- thirds  of  the  votes  nor  less  than  the  votes  required  to 
amend  its  constitution  and  laws;  and  (2)  Provided,  further, 
that  the  meeting  of  the  supreme  or  governing  body  and  the 
election  of  officers,  representatives,  or  delegates  shall  be  held  as 
often  as  once  in  four  years. 

b.  The  members,  officers,  representatives,  or  delegates  of  a 
fraternal  benefit  society  shall  not  vote  by  proxy. 

c.  Provision  may  be  made  for  voting  by  mail. 

1956  (4)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

Societies,  lodges,  orders  and  associations  excepted. 

4.  Unless  express  reference  is  made  to  this  subsection,  no 
law  now  in  force  or  hereby  or  hereafter  enacted  shall  include 
or  apply  to :  a.  Societies  which  limit  their  membership  to  any 
one  hazardous  occupation. 

b.  Nor  to  an  association  of  local  lodges  of  a  society  now  do- 
ing business  in  this  state  which  provides:  (1)  death  benefits 
not  exceeding  three  hundred  dollars  to  any  one  person;  (2)  dis- 
ability benefits  not  exceeding  three  hundred  dollars  in  any  one 
year  to  any  one  person;  (3)  or  both, 

c.  Nor  to  any  contracts  of  re-insurance  business  on  such  plan 
in  this  state. 

d.  Nor  to  domestic  societies  which  limit  their  membership 
to  the  employees  of:  (1)  a  particular  city  or  town;  (2)  a  des- 
ignated firm,  business  house,  or  corporation. 

e.  Nor  to  domestic  lodges,  orders,  or  associations  of  a  purely 
religious,  charitable,  and  benevolent  description,  which  do  not 
provide :  (1)  for  a  death  benefit  of  more  than  one  hundred  dol- 
lars; (2)  or  for  disability  benefits  of  more  than  one  hundred 
and  fifty  dollars  to  any  one  person  in  any  one  year. 

1956  (5)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

Domestic  societies  excepted  only  when  membership  limited. 

5.  But,  (a)  any  such  domestic  order  or  society  which,  (1)  has 


1956—5  MUTUAL  BENEFIT  SOCIETIES.  148 

more  than  five  hundred  members,  (2)  and  provides  for  death  ur 
disability  benefits;  (b)  and  any  such  domestic  lodge,  order,  or 
society  which  issues  to  any  person  a  certificate  providing  for 
the  payment  of  benefits ;  shall  not  be  exempt  by  the  provisions 
of  this  section,  but  shall  comply  with  all  the  requirements  of 
the  law  relating  to  fraternal  benefit  societies. 

1956  (6)  (Chs.  216  and  664,  1911,  in  effect  May  27  and  July  22, 
1911.) 
Commissioner  may  require  information. 

6.  The  commissioner  of  insurance  may  require  from  any  so- 
ciety such  information  as  will  enable  him  to  determine  whether 
such  society  is  exempt  from  the  provisions  of  *  *  *  the 
laws  relating  to  insurance  or  to  fraternal  benefit  societies. 

1956  (7)   (Ch.  216,  1911,  in  effect  May  27,  1911.) 

No  exception  if  compensation  paid  for  new  members. 

7.  No  society  shall  be  exempt  by  the  provisions  of  subsection 
4  of  this  section  if  it  shall  give  or  allow,  or  promise  to  give  or 
allow,  to  any  person  any  compensation  for  procuring  new  mem- 
bers. 

1956  (8)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Accident  societies. 

8.  Any  fraternal  benefit  society,  heretofore  organized  and 
incorporated  and  operating  within  the  definition  set  forth  in 
subsections  1,  2,  and  3  of  this  section,  (a)  providing  for  bene- 
fits in  case  of  death  or  disability  resulting  solely  from  acci- 
dents, (b)  but  which  does  not  obligate  itself  to  pay  death  or 
sick  benefits,  may  be  licensed  under  the  provisions  of  the  law 
relating  to  fraternal  benefit  societies  and  shall  have  all  the 
privileges  and  shall  be  subject  to  all  the  provisions  and  regu- 
lations of  such  law,  except  that  the  provisions  of  such  law 
requiring  medical  examinations,  valuations  of  benefit  certifi- 
cates, and  that  the  certificate  Shall  specify  the  amount  of  ben- 
efits, shall  not  apply  to  such  society. 

1956  (9)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

Fraternal  exempt  from  general  and  insurance  laws. 

9.  Unless  express  reference  is  made  to  this  subsection  or 
unless  expressly  designated  therein,  no  law  now  in  force  or 
hereafter  enacted,  shall  apply  to  any  fraternal  benefit  society 
or  mutual  benefit  society. 


149  MUTUAL  BENEFIT  SOCIETIES.  1956  (10) 

1956  (10)  (Ch.  216,  1911,  in  eifect  May  27,  1911.) 
Assessments,  organization,  defined. 

10.  The  word  '"assessment,"  as  used  in  any  law  applicable 
Id  any  fraternal  benefit  society,  shall  mean  that  the  usual 
method  employed  by  any  organization  within  such,  provisions 
to  meet  its  death  losses  is  by  assessments  upon  its  surviving 
iiiombers,  or  that  the  amount  estimated  or  required  to  meet 
such  losses  shall  not  be  limited  to  a  fixed  sum.  The  word 
''organization,"  as  so  used,  shall  mean  all  such  fraternal  bene- 
iii  societies. 

1957  (3)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Membership,  age  limits,  medical  examination. 

Section  1957.  3.  a.  No  fraternal  benefit  society  shall  ad- 
mit to  beneficial  membership  any  person  less  than  sixteen  or 
more  than  sixty  years  of  age. 

b.  Nor  until  he  has  been  examined  by  a  legally  qualified 
])liysician  and  such  examination  has  been  supervised  and  ap- 
proved in  accordance  with  the  laws  of  the  society. 

c.  Any  person  who  shall  apply  for  a  certificate  providing 
for  disability  benefits  only,  need  not  be  required  to  pass  a 
medical  examination  therefor. 

d.  General  or  social  members  may  be  accepted  at  other  ages 
than  herein  specified. 

1957  (5)   (1898;  ch.  101,  1899;  ch.  216,  1911,  in  effect  May  27, 
1911.) 
Beneficiaries. 
5.  Any  member  of  such  society,   order  or  association  may 
name  as  his  beneficiary  any  person  or  persons  designated  by 
the  laws  of  such  society,  order  or  association,  or  if  the  laws 
thereof  permit  his  insurance   may  be   made   payable   to   his 
estate.     Any  member  may  change  the  beneficiary  named  in 
his  certificate  or  policy  without  the  consent  of  such  beneficiary, 
by  complying  with  the  by-laws  of  the  society,  order  or  asso- 
f  ciation  which  issued  the  same. 

1957  (5m)  (Ch.  210,  1911,  in  effect  May  27,  1911.) 
Deferred  dividends  prohibited. 
(Section  1957.)  5m.  No  fraternal  benefit  society  doing  busi- 
ness, in  this  state  shall  enter  into  or  issue  any  certificate,  policy, 
or  other  contract  in  which  the  accounting,  apportionment,  and 
distribution  of  any  profits,  savings,  earnings,  or  surplus  shall 
be  deferred  for  a  longer  period  than  one  year. 


1957   (10)  MUTUAL  BENEFIT   SOCIETIES.  150 

1957  (10)   (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Investments,  home  office. 

10.  Every  society  shall  invest  its  funds  only  in  securities 
permitted  by  the  laws  of  this  state  for  the  investment  of  the 
assets  of  life  insurance  companies;  provided  that  any  foreign 
society  permitted  or  seeking  to  do  business  in  this  state,  which 
invests  its  funds  in  accordance  with  the  laws  of  the  state  in 
which  it  is  incorporated,  shall  be  held  to  meet  the  require- 
ments of  this  act  for  the  investment  of  funds;  and  provided 
that  a  part  thereof  not  exceeding  twenty  per  centum  of  its 
assets,  may  be  invested  in  a  building  for  use  and  occupancy 
by  the  society  as  its  home  office. 

1957  (11)   (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Expenses  limited  to  provision. 

11.  a.  Every  provision  of  the  laws  of  a  fraternal  benefit 
society  for  payment  by  members  of  such  society,  in  whatever 
form  made,  shall  distinctly  state  the  purpose  of  the  same  and 
the  proportion  thereof  which  may  be  used  for  expenses. 

b.  No  part  of  the  money  collected  for  mortuary  or  disabil- 
ity purposes,  or  to  mature  the  policies,  or  of  the  net  accretions 
thereto,  shall  be  used  for  expenses. 

c.  Savings  on  mortality  may  be  used  to  pay  the  expenses  of 
medical  examinations  and  inspections  of  risks. 

1958  (1898;  ch.  442,  1901;  ch.  511,  1907;  ch.  175,  1911,  in  effect 

May  20,  1911.) 
Fraternal  benefit  society,  organization. 

Section  1958.  1.  a.  Fraternal  heiieficiary  or  mutiuil  henefit 
societies  may  he  incorporated  as  provided  in  sections  1896  to 
1901m,  inclusive. 

b.  Before  such  society  shall  he  licensed  to  transact  husiness 
*  *  *  at  least  five  hundred  persons  shall  have  made  appli- 
cation in  writing  for  membership  in  such  proposed  corporation. 

c.  *  *  *  In  case  of  *  *  *  life  *  *  *  insurance, 
each  shall  have  *  *  *  been  examined  and  recommended 
as  insurable  by  a  reputable  physician,  and  *  *  *  shall 
have  deposited  *  *  *  the  premium  for  one  year  of  insur- 
ance, out  of  which  *  *  *  there  shall  be  pledged  for  the 
p^vment  of  death  losses  a  sufficient  sum  to  pay  the  largest  pos- 
sible single  death  claim.     *     *     t 


151 


MUTUAL  BENEFIT  SOCIETIES. 


1958   (2) 


1958  (2)   (1898;  ch.  442,  1901;  ch.  511,  1907;  ch.  175,  1911,  in 
effect  May  20,  1911.) 
Rates,  reserves,  mortality  table,  disability  benefits,  policy 
provisions,  benefits  on  lapse. 

2.  a.  No  fraternal  beneficiary  order  or  society  not  author- 
ized or  licensed  to  transact  business  within  this  state  *  *  * 
OH  the  twelfth  day  of  July,  1907,  shall  be  incorporated  within 
this  state  or  be  licensed  or  permitted  to  transact  business  with- 
in this  state,  unless  its  laws  require  the  regular  payment  and 
collection  of  rates  of  assessment  under  whatsoever  plan  of 
business  it  has  adopted  not  lower  than  those  deduced  from  the 
National  Fraternal  Congress  mortality  table  computed  upon 
an  interest  assumption  of  four  per  =*  '^  *  centum  per  an- 
num, nor  unless  it  shall  hold  assets  sufficient  to  provide  for  its 
other  liahilities  and  its  reserve  liability,  upon  its  own  plm  and 
assumptions  ivithin  the  foregoing  limitations. 

h.  The  National  Fraternal  Congress  mortality  table  is  as 
follows: 


Number 

Number 

Proba- 

Number 

Number 

Proba- 

Age. 

living. 

dying. 

bility  of 
dying. 

Age. 

living. 

dying. 

bil  ty  of 
dying. 

?0      

100,000 

.^00 

.O^^OOOO 

60    

69,801 

1,588 

.0227-04 

21     

99,500 

.'■01 

.0050352 

61    

68,213 

1,681 

.0246434 

22 

98,999 

^2 

.00.50708 

62    

66.-532 

1,778 

.0267240 

23    

98,497 

503 

.0057  06S 

63    

64.754 

1.8^0 

.0290330 

24    

97,r94 

.^^05 

.0051  ="5 

64    

62,874 

1,985 

.0315711 

2.')    

97.489 

507 

.0052006     1 

65    

60,889 

2,094 

.0^43904 

26    

96.982 

510 

.005-'r87 

66    

.'=8,795 

2,206 

.037.5202 

07 

96,472 

513 

.00?3'76 

67    

56,589 

2,318 

.0409620 

28    

95,959 

.517 

.Ofv^'-877 

68    

54,271 

2.4.30 

.044"^753 

29    

95.442 

.522 

.0054693 

69    

.51,841 

2.. 539 

.0189  67 

80    

94,920 

527 

.005-520 

70    

49,302 

2.645 

.0-.364S9 

81     

94.393 

.533 

.00 '646*5 

71    

46,657 

2.744 

.0:'88''22 

32    

93,8fi0 

540 

.00575^2 

72    

43,913 

2,«32 

.0644912 

S3    

93,3-20 

5<8 

.(H\5fi~'>'i 

73    

41,081 

2.909 

.0-081  3 

o4    

92.772 

557 

.0OCOO40 

74    

38,172 

2,969 

.077779'. 

3.>    

92.215 

567 

.00^148' 

75    

35,203 

3.009 

.0-. 54757 

3n  

91,648 

578 

.0088067 

76    

32.194 

3.02o 

.0939927 

37   

91,070 

591 

.O064:j»5 

77    

29, If  8 

3.016 

.1034010 

38    

90,4T9 

(06 

.0066077 

78    

26,152 

2.9-7 

.n8J-;345 

39    

89,873 

622 

.0069209 

'79    

23,175 

2.905 

.1253506 

40    

89.251 

640 

.00-1708 

80    

20.270 

2.799 

.13^08^8 

41     

88,611 

660 

.rO-4483 

81    

17.471 

2,659 

.L-2^9  1 

42    

87.951 

683 

.00 -765  r 

82    

14,812 

2,485 

.1  77(94 

43     

87.2t8 

70S 

.o'.wn2T 

83    

12.827 

2,280 

.849599 

44     

86.5' 0 

734 

.00=479- 

84    

10.047 

2,050 

.20:0410 

i.')         ....y.. 

85.826 

."1 

.•y<SS6GR 

8:5    

7.997 

1.800 

.22-0844 

4()    

85,065 

790 

■,Vv.r2S  ;» 

80    

6,197 

1.539 

.2483R0 

47     

84.275 

822 

.00)7538 

87    

4,658 

1.277 

.2  4  .520 

48    

83,453 

857 

.0102(93 

i8    

3.381 

1,023 

.£025732 

49    

82.596 

<<H 

.0103!'33 

89    

2,3.58 

788 

.33 '1815 

."0    

81.702 

935 

.0114440 

90    

1.50 

579 

.36878  8 

r.i   

80.767 

981 

.•0121461 

91    

991 

404 

.40-6690 

;,2 

79.786 

1,029 

.0128970 

92    

587 

264 

.4497415 

:,;;    

78.757 

1,083 

.0-37512 

93    

323 

161 

.49845- 0 

r>4    

77,674 

1,140 

.0146767 

94    

162 

89 

.-4938-27 

.-,-) 

76,5.'}4 

l.;02 

.0157054 

95    

73 

44 

.6027397 

;.(;   .., 

75.332 

1.2T0 

.0K8-8' 

96    

29 

19 

.6551724 

r)7 

74.0'j2 

1,342 

.0181200 

97    

10 

7 

.7000000 

.'S   

72.720 

1.418 

.0194994 

£8    

3 

3 

l.OGOOOOJ 

59   

71.302 

l.COl 

.0210513 

► 


1958   (2)  MUTUAL  BENEFIT  SOCIETIES.  152 

c.  The  payment  of  any  disability  benefits  promised  or  ren- 
dered by  any  such  society  or  order  hereafter  organized  or  ad- 
mitted to  this  state  that  are  not  provided  for  in  the  rates  de- 
duced from  said  table  of  mortality  as  is  herein  required  must 
be  amply  provided  for  in  addition  to  the  rates  of  assessments 
as  herein  required. 

d.  Every  contract  or  certificate  of  insurance  issued  or  debiv- 
ered  hi/  any  fraternal  benefit  society  hereafter  organized  or  ad- 
mitted in  this  state,  shall  contain: 

,  (1)  A  statement  of  the  table  of  mortality  or  other  hasic  table 
and  rate  of  interest  and  method  upon  which  the  reserve  on  such 
contract  is  to  be  computed. 

(2)  A  statement  in  t'he  body  of  the  contract  or  as  a  rider  made 
a  part  thereof  and  affixed  thereto,  giving  in  dollars  and  cents  for 
each  age  during  the  possible  history  of  the  contract,  the  mortal- 
ity charge  or  cost  of  insurance  and  the  reserve  upon  the  foregoing 
assumptions. 

(3)  In  the  case  of  every  society  issuing  all  its  contracts,  as 
provided  in  this  subsection,  such  last  mentioned  statement  shall 
also  provide  that  upon  any  forfeiture  or  change  in  the  contract, 
one  or  more  benefits  shall  be  given  to  the  insured  or  beneficiary, 
or  both,  as  specified  therein,  the  present  value  whereof  sliall  equal 
the  reserve  less  a  surrender  charge,  if  any,  not  exceeding  one  per 
centum  on  the  amount  of  the  insurance  specified  in  the  contract. 
One  of  said  benefits  shall  be  either  (a)  an  automatic  loan  to  cover 
any  unpaid  premitmi  or  assessment,  ivith  interest  at  a  specified 
ra,te,  until  the  reserve  (less  the  surrender  charge  and  indebted- 
ness, if  any)  is  exhausted,  or  (b)  extended  or  paid-up  insurance 
to  the  amount,  the  reserve  (less  the  snri^ender  charge  and  in- 
debtedness, if  any)  ivill  nurchose  as  a  net  single  vremium  on  the 
table  and  rate  specified,  the  duration  or  amount  of  which  extended 
or  paid-up  insurance  shall  be  specified  in  such  statement. 

1958  (3)  (Ch.  32,  1911,  in  effect  April  29,  1911.) 

Old  members,  license  for,  special  license,  separate  funds. 

(Section  1958.)  3.  a.  Any  fraternal  beneficiary  or  mutual 
benefit  society  having  members  residing  in  this  state  on  the  first 
day  of  May,  1911,  shall,  without  complying  ivith  the  requirements 
of  subsection  2  hereof,  but  upon  complying  with  the  other  re- 
quirements of  law  Inflating  to  such  societies,  be  entitled  to  trans- 
act  the  busi^iess  of  insurance  with  such  members  and  with  mem- 
bers who  shall  thereafter  come  into  this  state  after  having  be- 
come such  members. 

b.  Provided  that  such  society  not  complying  with  the  require- 
ments of  subsection  2  hereof  shall  not  be  entitled  to  solicit,  receive, 


153  MUTUAL  BENEFIT  SOCIETIES.  1958   (2) 

or  accept  new  members  within  this  state,  until  it  shall  have  re- 
ceived the  license  of  the  commissioner  therefor,  which  shall  only 
he  issued  after  examination  by  the  commissioner  if  it  appears 
and  due  proof  is  filed  with  him,  that  suck,  society  Has  lawfully 
adopted  and  incorporated  into  its  charter,  articles,  or  by-laws  a 
valid  and  binding  pwvision  that  from  such  date  new  members  be 
solicited,  received,  or  accepted  within  this  state  only  according  to 
the  provisions  of  said  subsection  2,  and  that  the  amount  of  funds 
necessary  to  meet  the  reserve  liability  on  each  policy  or  certifi- 
cate of  such  new  members  shall  be  kept  separate  and  apart  from 
the  other  funds  of  the  society  in  trust  for  each  such  member  and 
shall  be  used  only  for  the  pioipose  of  m,aintaining  such  reserve 
and  maturing  such  policies  or  certificates,  and  that  a  policy  or 
certificate  shall  be  issued  to  each  member  reciting  the  foregoing 
conditions  and  specifying  the  premium,  and  that  assessments,  if 
any,  shall  be  levied  only  in  the  manner  and  for  the  specific  pur- 
poses therein  enumerated. 

c.  Provided  that  when  such  society  shall  in  all  respects  as  to  all 
its  members  have  complied  with  the  requirements  of  subsection  2 
of  this  section,  it  shall  no  longer  be  required  to  keep  such  funds 
separate  as  required  by  paragraph  b  of  this  subsection. 

1958  (4)  (1898;  ch.  442,  1901;  ch.  511,  1907;  ch.  216,  1911,  in 
effect  May  27,  1911.) 
Accident  associations,  deposit. 
4.  In  case  of  an  accident  association  before  license  is  issued, 
it  shall  deposit  with  the  state  treasurer  a  security  for  the  pay- 
ment of  claims  against  said  corporation  in  case  of  voluntary 
dissolution  or  the  winding  up  of  its  anairs,  good,  interest  bear- 
ing securities  to  be  approved  by  the  commissioner  of  insurance 
in  the  amount  in  par  value,  exclusive  of  interest,  of  not  less  than 
one  thousand  dollars;  such  securities  shall  be  retained  by  the 
state  treasurer  so  long  as  said  corporation  shall  continue  to  do 
business.  Provided  that  said  corporation  may  at  any  time  upon 
the  approval  of  the  commissioner  of  insurance,  substitute  other 
securities  of  equal  value;  the  interest  on  said  securities  shall  be 
payable  to  the  said  corporation,  and  in  case  of  the  dissolution 
of  said  coi*poration  or  the  winding  up  of  its  affairs,  the  said 
securities  shall  be  delivered  to  the  duly  appointed  receiver  of 
the  said  coi-poration  or  io  the  corporation  itself,  upon  the  cer- 
tificate of  the  commissioner  of  insurance. 


1^58   (5)  MUTUAL  BENEFIT  SOCIETIES.  154 


1958  (5)   (1898;  ch.  442,  1901;  eh.  511,  1907;  eh.  216,  1911,  in 
effect  May  27,  1911.) 
Deposit  in  another  state. 

5.  In  case  of  associations  already  organized  and  doing  busi- 
ness under  the  provisions  of  this  act,  the  securities  herein  above 
provided  for,  shall  be  deposited  with  the  state  treasurer  in  the 
same  manner,  for  the  same  purpose  and  to  the  same  effect  as 
above  provided,  on  or  before  the  first  day  of  January,  1902. 
Provided,  however,  that  when  the  statutes  of  any  other  state, 
mutual  benefit  associations  doing  an  accident  or  health  business 
organized  or  doing  business  therein,  are  required  to  keep  on 
deposit  with  the  state  treasurer  or  other  state  officer,  securities 
for  the  protection  of  policyholders  generally  and  any  such 
company  shall  furnish  to  the  commissioner  of  insurance  of  this 
state,  the  certificate  of  the  proper  officer  of  such  other  state, 
showing  ths  amount  and  character  of  the  securities  so  deposited 
with  him  and  it  shall  appear  therefrom  that  the  said  securities 
are  equal  in  market  value  and  availability  to  one  thousand  dol- 
lars, and  that  said  securities  consist  of  stock  or  bonds  of  the 
United  States  or  of  this  state  or  of  any  city  or  county  in  thi? 
state  authorized  by  act  of  legislature  to  issue  the  same  or  of 
state,  county  or  city  bonds  or  of  stocks  of  the  state  where  such 
company  or  association  is  organized  or  of  bonds  and  mortgages 
on  improved  real  estate,  worth  double  the  sum  loaned  thereon, 
and  it  shall  further  appear  from  the  laws  of  such  other  state 
that  the  securities  so  deposited  are  subject  to  be  made  available 
to  satisfy  judgments  of  policy-holders  in  any  manner  corre- 
sponding to  that  provided  for  the  care  of  securities  deposited 
under  this  act,  the  commissioner  of  insurance  shall  thereupon 
be  authorized  to  issue  to  such  company  an  authority  or  license 
to  transact  the  business  of  accident  and  health  insurance  within 
this  state,  without  any  such  deposit  of  securities  with  the  state 
treasurer  of  this  state  as  is  above  provided. 

1958  (15)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

License,  expiration,  revocation,  name,  existing  contracts, 
reports. 

15.  a.  No  fraternal  benefit  society  shall  transact  any  busi- 
ness herein  without  a  license  from  the  commissioner  of  insur- 
ance. 

b.  Societies  which  are  now  or  shall  be  hereafter  authorized 
to  transact  business  in  this  state  may  continue  such  business 
until  the  first  day  of  April  next  succeeding  the  taking  effect 
of  this  section,  or  the  granting  of  such  license,  and  the  author- 


155  MtT'TUAL  BENEFIT   SOCIETIES.  1958  (15) 

ity  of  such  societies  may  thereafter  be  renewed  annually  to 
terminate  on  the  first  day  of  the  succeeding  April,  provided 
that  the  license  shall  continue  in  force  and  effect  until  the  new 
license  be  issued  or  specifically  refused. 

c.  A  certified  copy  of  such  license  shall  be  prima  facie  evi- 
dence that  the  licensee  is  a  fraternal  benefit  society  within  the 
meaning  of  section  1956. 

d.  Such  license  shall  be  subject  to  revocation  by  the  com- 
missioner for  violation  of  law,  or  whenever  such  society  shall 
fail  to  file  with  him  a  copy  of  any  form  of  its  contract  before  it 
shall  be  issued  or  delivered  in  this  state,  or  shall,  in  soliciting 
business,  by  the  use  or  circulation  of  any  printed  matter  or 
advertisement,  or  otherwise,  misrepresent  its  condition  or  con- 
tracts. 

e.  No  license  shall  be  issued  to  any  society,  hereafter  or- 
ganized or  applying  for  admission,  having  a  name  so  similar 
to  the  name  of  any  societj'  theretofore  licensed  in  this  state  as 
to  mislead  the  public. 

f.  Nothing  in  this  or  any  other  section  of  the  statutes,  shall 
be  construed  as  preventing  any  such  society  from  continuing 
in  good  faith  all  contracts  issued  or  delivered  in  this  state  dur- 
ing the  time  such  society  was  legally  authorized  to  transact 
business  herein;  provided,  such  society  shall,  so  long  as  any 
contract  remains  in  force  in  this  state,  make  such  annual  re- 
ports as  required  by  law  during  the  year  previous  to  the  last 
year  of  its  being  licensed,  or  at  its  option  as  thereafter  required 
1)3^  law. 

1958  (16)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

Admission,  foreign  society,  conditions,  examination,  state- 
ment. 
16.  a.  Any  foreign  fraternal  benefit  society  which  is  not 
now  authorized  to  transact  business  in  this  state,  may  be  li- 
censed to  transact  business  in  this  state,  upon  an  examination 
by  or  under  the  direction  of  the  commissioner  of  insurance  of 
this  state,  which  shall  verify  and  be  made  after  the  filing  with 
him  of: 

(1)  a  duly  certified  copy  of  its  charter  or  articles  of  associa- 
tion; 

(2)  a  copy  of  its-  by-laws  and  of  any  other  constitution  and 
laws,  certified  by  its  secretary  or  corresponding  officer; 

(3)  a  powder  of  attorney  to  the  commissioner  as  herein  pro- 
vided ; 

(4)  a  certificate  from  the  proper  official  in  its  home  state, 
province,  or  country  that  the  society  is  legally  organized  and 
licensed  to  transact  business  therein; 


1968   (16)  MUTUAL  BENEFIT  SOCIETIES.  156 

(5)  a  copy  of  each  of  its  contracts  which  must  each  show 
that  benefits  are  provided  for  by  periodical  or  otlier  payments 
by  persons  holding  similar  contracts ; 

(d)  a  statement  of  its  business  under  oath  of  its  president 
and  secretary  or  corresponding  officers,  in  the  form  required 
by  the  commissioner,  showing  that  it  complies  with  all  the  pro- 
visions of  law  relating  to  like  domestic  societies ; 

(7)  such  other  information  as  he  may  deem  necessary  to  a 
proper  exhibit  of  its  business  and  plan  of  working ; 

(8)  a  statement  signed  by  its  president  and  secretary,  or 
corresponding  officers,  including  a  copy  of  a  resolution  of  its 
board  of  directors  or  other  governing  body,  authorizing  the 
same : 

(a)  that  it  will  annually  file,  as  long  as  any  contracts  issued 
or  delivered  in  this  state  remain  in  force  therein,  its  annual 
report  as  required  by  subsection  15  of  this  section,  and 

(b)  that  it  will  accept  a  license  which  shall  immediately 
terminate  upon  its  removal,  or  making  an  application  to  re- 
move to  any  court  of  the  United  States,  any  action  or  proceed- 
ing begun  in  any  court  of  this  state,  upon  any  such  contract  or 
upon  any  business  or  transaction  had  in  this  state. 

1958  (17)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Attorney  for  service  of  process,  fee. 

17.  a.  Every  society,  whether  domestic  or  foreign,  not  here- 
tofore having  done  so,  shall  before  being  licensed,  by  an  in- 
strument in  writing  duly  authorized  and  executed,  appoint  the 
commissioner  of  insurance  and  his  successors  its  true  and  law- 
ful attorney  upon  whom  all  legal  process  in  any  action  or  pro- 
ceeding against  it  shall  be  served,  and  therein  agree  that  any 
lawful  process  against  it,  which  may  be  served  upon  such  at- 
torney, shall  be  of  the  same  force  and  validity  as  if  served  upon 
the  society,  and  that  this  authority  shall  continue  in  force 
irrevocably  so  long  as  any  liability  of  the  society  remains  out- 
standing in  this  state. 

b.  The  service  of  such  process  shall  be  made  by  leaving  the 
same,  in  duplicate,  in  the  hands  or  office  of  the  commissioner. 

c.  One  of  the  duplicates  of  such  instruments,  certified  hy  the 
commissioner  as  having  been  served  upon  him,  shall  be  deemed 
sufficient  evidence  thereof,  and  service  upon  such  altorney  shall 
be  deemed  service  upon  the  principal. 

d.  When  legal  process  is  served  upon  the  commissioner  as 
attorney  for  any  society,  he  shall  forthwith  forward  one  of  the 
duplicate  copies  of  process  served  on  him  to  its  secretary,  or 
corresponding  officer,  or  to  such  other  person  as  may  have  been 


157  MUTUAL  BENEFIT  SOCIETIES.  1958  (17) 

previously  designated  by  the  society  by  written  notice  filed  in 
the  oflRce  of  the  commissioner. 

e.  As  a  condition  of  valid  and  effective  service  and  of  the 
duty  of  the  commissioner  in  the  premises,  the  plaintiff  in  each 
such  process  shall  pay  to  the  commissioner,  at  the  time  of  serv- 
ice thereof,  the  sum  of  two  dollars,  which  the  said  plaintiff  shall 
recover  as  taxable  costs,  if  he  prevails  in  the  suit. 

f.  The  commissioner  shall  keep  a  record  of  all  such  processes, 
which  shall  show  the  day  and  hour  of  service. 

cr.  Leisral  process  shall  not  be  served  upon  any  such  society 
except  in  the  manner  and  unon  the  attorney  provided  herein. 

h.  Any  society  so  served  shall  have  thirty  days  from  the 
date  of  such  service  in  which  to  serve  its  answer,  pleading,  or 
defense.  i  '     • 

1959  C22)  (Ch.  216,  1011.  in  effect  May  27,  1911.) 
Mutual  benefit  society. 
Section   1959.     22.  a.  As   a   part   of   its   annual   statement 
everv  fraternal   benefit  society  shall   report  a  valuation  of  its 
f^ortificates  in  force  as  of  the  end  of  each  year,  beginning  with 
December  31,  1912. 

b.  Such  valuation  shall  be  certified  by  a  competent  account- 
ant or  actuary,  or  at  the  request  and  expense  of  the  societv, 
verified  bv  the  actuary  of  the  department  of  insurance  of  the 
liome  state  of  the  society. 

c.  The  time  for  filing  such  valuation  may  be  extended  by  the 
commissioner  not  exceeding  ninety  davs. 

d.  The  legal  minimum  standard  of  valuation  for  all  certifi- 
cates, exceot  for  disability  benefits,  shall  be  the  National  Fra- 
ternal Conerress  table  of  mortality  sDccified  by  law,  or  at  the 
option  of  the  society,  any  hierher  table  or  any  table  authorized 
bv  section  1950,  or,  at  its  option,  it  may  use  a  table  based  upon 
the  societv 's  own  experience  of  at  least  twenty  years  and  cov- 
ering not  less  than  one  hundred  thousand  lives  with  an  interest 
assumption  of  not  more  than  four  per  centum  per  annum, 
whichever  mortality  table  is  adopted. 

e.  Fach  valuation  renort  shall  set  forth  clearly  and  fully  the 
mortality  and  interest,  basis  and  the  method  of  valuation. 

f.  Any  society  providing  for  disabilitv  benefits  shall  keep  the 
net  contributions  for  such  benefits  in  a  fund  separate  and  apart 
from  all  other  benefit  and  expense  funds  and  the  valuation  of 
all  other  business  of  the  societv;  provided  that  where  a  com- 
bined contribution  table  is  used  by  a  society  for  both  death  and 
permanent  total  disability  benefits,  the  valuation  shall  be  accord- 
ing to   tables   of  reliable    experience   approved   by   the   com- 


1959   (22)  MUTUAL  BENEFIT  SOCIETIES.  158 

missioner  of  insurance,  and  in  such  case  a  separation  of  the 
funds  shall  not  be  required. 

g.  The  valuation  herein  provided  for  shall  not  be  considered 
or  regarded  as  a  test  of  the  financial  solvency  of  the  society, 
but  each  society  shall  be  held  to  be  legally  solvent  so  long  as 
the  funds  in  its  possession  are  equal  to  or  in  excess  of  its  ma- 
tured liabilities. 

h.  Beginning  with  the  year  1914  a  report  of  such  valuation 
and  an  explanation  of  the  facts  concerning  the  condition  of  the 
society  thereby  disclosed  shall  be  printed  and  mailed  by  the 
society  to  each  beneficiary  member  of  the  society  not  later  than 
the  first  of  each  year,  or,  in  lieu  thereof,  such  report  of  valua- 
tion and  showing  of  the  society's  condition  as  thereby  disclosed 
may  be  published  in  the  society's  official  paper  and  the  issue 
containing  the  same  mailed  to  each  beneficiary  member  of  the 
society. 

i.  This  subsection  shall  not  apply  to  any  foreign  society  is- 
suing '^  ^  *  no  certificate  in  excess  of  five  hundred  dollars 
and  licensed  in  this  state  before  January  1,  1911. 

1959  (23)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Aimital  report. 
28.  Every  such  organization  authorized  to  do  business  in  this 
state  shall,  on  or  before  the  first  day  of  March  of  each  year, 
make  and  file  with  the  commissioner  of  insurance  a  report  of  its 
affairs  and  its  operations  during  the  year  ending  on  the  pre- 
ceding thirty-first  day  of  December.  Such  report  shall  be 
upon  blank  forms  to  be  provided  by  such  commissioner,  and 
shall. be  verified  under  oath  by  the  proper  officers  thereof  and 
be  published,  or  the  substance  thereof,  in  the  report  of  the  com- 
missioner under  a  separate  part  entitled  ' '  Mutual  benefit  socie- 
ties, orders  or  associations, ' '  and  shall  show : 

1.  Number  of  certificates  issued  during  the  year  or  members 
admitted. 

2.  Amount  of  indemnity  effected  thereby. 

3.  Number  of  losses  or  benefit  liabilities. 

4.  Number  of  losses  or  benefit  liabilities  paid. 

5.  The  amount  received  from  each  assessment  in  each  class 
for  the  year. 

6.  Total  amount  paid  members,  beneficiaries,  legal  represen- 
tatives and  heirs. 

7.  Number  and  kind  of  claims  for  which  assessments  have 
been  made, 

8.  Number  and  kind  of  claims  compromised  or  resisted,  and 
brief  statements  of  reasons* 


159  MUTUAL  BENEFIT    SOCIETIES.  1959   (23) 

9.  Does  society  charge  annual  or  other  periodical  dues  or 
admission  fees? 

10.  How  much  on  each  one  thousand  dollars  annually  or  per 
capita,  as  the  case  may  be? 

11.  Total  amount  received,  from  what  sources,  and  disposi- 
tion thereof. 

12.  Total  amount  of  salaries  paid  to  officers. 

13.  Does  society  guarantee  in  its  certificate  fixed  amount  to 
he  paid,  regardless  of  amount  realized  from  assessments,  dues, 
admission  fees  and  donations? 

14.  If  so,  state  amount  guaranteed  and  the  security  of  such 
guaranty. 

15.  Has  the  society  a  reserve  fund? 

16.  If  so,  how  it  is  created,  and  for  what  purpose,  the  amount 
thereof,  and  how  invested. 

17.  Has  the  society  more  than  one  class? 

18.  If  so,  how  many,  and  the  amount  of  indemnity  in  each. 

19.  Number  of  members  in  each  class. 

20.  If  organized  under  the  laws  of  this  state,  under  what 
law,  and  at  what  time. 

21.  If  organized  imder  the  laws  of  any  other  state  or  terri- 
tory, the  District  of  Columbia  or  any  foreign  country,  state 
such  fact  and  the  date  of  organization,  giving  chapter  and  year 
and  date  of  passage  of  the  act. 

22.  Number  of  certificates  of  membership  in  force  at  ])egin- 
ning  and  end  of  year ;  if  more  than  one  class,  number  of  each. 

23.  Number  of  certificates  of  membership  lapsed  during  the 
year. 

24.  Number  of  certificates  of  membership  in  force  in  this 
state  at  the  beginning  and  end  of  year ;  if  more  than  one  class, 
number  of  each. 

25.  Number  of  certificates  of  membership  in  this  state  lapsed 
during  the  year. 

26.  Number  of  deaths  in  this  state  during  the  year. 

27.  Number  and  amount  of  claims  paid  in  this  state  during 
the  year:  if  more  than  one  class,  number  and  amount  paid  in 
each. 

28.  Have  all  claims  been  paid  in  full?     If  not,  why  not? 

29.  Approximate  maximum  and  average  age  of  membership 
in  each  class. 

30.  Liabilities,  assets,  contingent  liabilities,  contingent  assets. 

''31.  A  schedule  giving  the  number  of  members  in  groups  ac- 
cording to  attained  ages,  the  amoinit  of  insurance  in  force,  the 
amount  received  in  pi^emiums  or  mortuary  assessments  during 


1959   (23)  MUTUAL  BENEFIT  SOCIETIES.  160 

the  year,  the  number  of  deaths  and  the  amount  of  death  losses 
incurred  during  the  year  in  each  group  at  attained  age." 

1959  (24)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Examinations. 

24.  The  commissioner  of  insurance,  or  any  person  he  may 
appoint,  shall  have  the  power  of  visitation  and  examination  into 
the  affairs  of  any  domestic  or  foreign  society.  He  may  employ 
assistants  for  the  purpose  of  such  examination,  and  he,  or  any 
person  he  may  appoint,  shall  have  free  access  to  all  the  books, 
papers,  and  documents  that  relate  to  the  business  of  the  society 
and  may  summon  and  qualify  as  witnesses  under  oath  and  ex- 
amine its  officers,  agents,  and  employees  or  other  persons  in 
relation  to  the  affairs,  transactions,  and  condition  of  the  society. 
The  expense  of  such  examination  shall  be  paid  by  the  society 
examined,  upon  statement  furnished  by  the  commissioner  of 
insurance,  and  the  examination  shall  be  made  at  least  once  in 
three  years. 

1959  (25)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 

Foreign  examination.  ' 

25.  The  commissioner  of  insurance  may,  in  his  discretion,  in 
lieu  of  examining  such  foreign  society,  accept  the  examination 
of  the  insurance  department  of  the  state,  territory,  district, 
province,  or  country  where  such  society  is  organized. 

1959  (26)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Examination  on  requiest. 

26.  The  commissioner  of  insurance  shall,  at  the  request  of 
any  organization  doing  business  under  these  provisions,  make 
an  examination  thereof  and  furnish  a  certificate  of  the  result, 
showing  all  its  assets,  how  invested,  and  such  other  particulars 
as  may  be  deemed  necessary  to  show  the  character  and  con- 
dition of  the  organization ;  and  the  necessary  expense  of  the 
said  examination  shall  be  paid  by  it. 

1959  (27)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Statements  during  examination,  bearing. 

27.  Pending,  during,  or  after  an  examination  or  investiga- 
tion of  any  such  society,  either  domestic  or  foreign,  the  com- 
missioner of  insurance  shall  make  public  no  financial  statement, 
report,  or  finding,  nor  shall  he  permit  to  become  public  any 
financiaj   statement,   report,   qv  finding  affecting  th^  status. 


J 61  MUTUAL  BENEFIT  SCKJIETIES.  1959   (27) 

standing,  or  rights  of  any  siu-h  society,  until  a  copy  thereof 
shall  have  been  served  upon  such  society,  at  its  home  office,  nor 
until  such  society  shall  have  been  afforded  a  reasonable  oppor- 
tunity to  answer  any  such  financial  statement,  report,  or  finding 
and  to  make  such  showing  in  connection  therewith  as  it  may 
desire. 

1959  (28)   (Chs.  216  and  664,  1911,  in  effect  May  27  and  July 
22,  1911.) 
License,  revocation,  hearing,  order,  review. 

28.  When  the  commissioner  of  insurance  on  investigation  is 
satisfied  that  any  foreign  society  transacting  business,  *  *  * 
as  a  fraternal  henefit  society  has  exceeded  its  powers,  or  has 
failed  to  comply  with  any  provisions  of  *  *  *  the  laws  re- 
lating to  fraternal  henefit  societies  or  is  conducting  .business 
fraudulently,  or  is  not  carrying  out  its  contracts  in  good  faith, 
he  shall  notify  the  society  of  his  findings,  and  state  in  writing 
the  grounds  of  his  dissatisfaction,  and  after  reasonable  notice, 
require  said  society,  on  a  date  named,  to  show  cause  why  its  li- 
cense should  not  be  revoked.  If  on  the  date  named  in  said  notice 
such  objections  have  not  been  removed  to  the  satisfaction  of  the 
said  commissioner,  or  the  society  does  not  present  good  and  suffi- 
cient reasons  why  its  authority  to  transact  business  in  this  state 
should  not  at  that  time  be  revoked,  he  may  revoke  the  authority 
of  the  society  to  continue  business  in  this  state.  All  decisions  and 
orders  of  the  commissioner  of  insurance  relating  to  fraternal 
benefit  societies  may  be  reviewed  as  provided  for  the  review 
of  orders  relating  to  insurance  companies. 

1959  (29)  (1898;  ch.  216,  1911,  in  effect  May  27,  1911.) 
Violation  of  law,  revocation  of  license,  expenses. 

29.  The  commissioner  of  insurance  shall  revoke  the  license  of 
any  organization  which  fails  to  comply  with  the  requirements 
of  law;  and  all  necessary  expenses  incurred  by  him  and  by  the 
attorney  general  in  enforcing  such  requirements  or  in  prose- 
cuting violations  thereof  shall  be  paid  out  of  the  general  fund, 
on  being  certified  to  the  secretary  o^  state  that  they  were  actu- 
ally and  necessarily  incurred  for  the  purpose  stated. 

1959  (30)  (Ch.  216,  1911,  in  effect  May  27,  1911.) 
Taxation,  exemption,  fees. 

30.  Every  fraternal  benefit  society  organized  or  licensed  iu 
this  state  shall  be  exempt  from  all  and  every  state,  county,  dis- 
trict, municipal,  and  school  taxes  or  fees,  but  shall  be  required 
to  pay  all  taxes  and  special  assessments  on  its  real  estate  and 

11— I.  L. 


1959  (30)  MUTUAL  BENEFIT  SOCIETIES.  16  J 

office  equipment,  and  the  same  fees  for  filing  its  articles  or 
amendments  and  annual  report  and  for  certified  copies,  as  pro- 
vided by  section  1972. 

1960  (Ch.  84,  1911,  in  effect  May  6,  1911.) 

1.  Disability  policies,  provisions,  type,  description,  d  (1)  en- 
tire contract,   (2)  representations,   (3)  notice  of  dis- 
ability, (4)  to  office  or  agent,  (5)  reinstatement,  (6)  in- 
crease of  hazard,  (7)  payment,  (8)  cancellation  by  com- 
pany, (9)  request  of  insured. 
1.  On  and  after  the  first  day  of  January,  nineteen  hundred 
and  twelve,  no  policy  of  insurance,  against  any  of  the  risks 
specified  in  subsections  4  and  5  of  section  1897  shall  be  issued 
or  delivered  in  this  state  by  any  domestic  or  foreign  company: 

a.  unless  every  portion  is  plainly  printed  in  type  not  smaller 
than  lon.g  primer  or  ten  point  type ; 

b.  unless  there  is  printed  on  the  first  page  thereof  and  on  its 
filing  back,  in  type  not  smaller  than  eighteen  point  or  great 
primer,  a  brief  description  of  the  policy : 

c,  unless  the  exceptions  be  printed  with  the  same  promi- 
nence as  the  benefits  to  which  such  exceptions  apply: 

d,  unless  it  contains,  in  substance,  the  following  provisions:, 

(1)  That  such  policy,  with  a  copy  of  the  application  there- 
for, if  any,  and  of  such  other  papers  as  may  be  attached  to  or 
indorsed  thereon  shall  constitute  the  entire  contract  of  insur- 
ance, except  as  the  same  may  be  affected  by  any  table  of  rates 
or  classification  of  risks  filed  by  the  corporation  with  the  com- 
missioner of  insurance. 

(2)  That  no  statement  made  by  the  applicant  for  insurance, 
which  statement  is  not  incorporated  in  or  indorsed  on  the  pol-  . 
icy  issued  to  such  applicant,  shall  avoid  the  policy  or  be  used  | 
in  evidence,  and  no  provision  of  the  charter,  constitution,  or  , 
by-laws  shall  be  used  in  defense  of  any  claim  arising  under 
any  such  policy,  unless  such  provisions  are  incorporated  in 
full  in  the  policy,  but  this  requirement  shall  not  be  deemed  to 
apply  to  the  table  of  rates  or  manual  of  classification  of  risks 
of  any  corporation  filed  with  the  commissioner  of  insurance 
prior  to  the  date  of  the  occurrence  of  the  injury  or  commence-  , 
ment  of  the  sickness  for  which  indemnity  is  claimed.  | 

(3)  Specifying  the  time  within  which  such  notice  of  acci- 
dent or  disability  shall  be  given,  which  time  shall  not  be  less 
than  twenty  days  from  the  datei  of  the  accident  nor  less  than 
ten. days  from  the  date  of  the  beginning  of  the  disability  from 
sickness  upon  which  the  claim  is  based,  provided,  however,  that 
in  case  of  accidental  death,  immediate  notice  thereof  may  be 


163  MUTUAL  BENEFIT  SOCIETIES.  1960 

required,  unless  the  notice  herein  specified  shall  be  shown  not 
to  have  been  reasonably  possible. 

(4)  That  notice  of  a  chiini  for  indemnity  shall  be  deemed 
sufficient  when  given  to  the  office  or  agent  of  the  corporation 
specified  in  the  policy. 

(5)  That,  under  every  such  policy,  if  a  past  due  premium 
shall  be  accepted  by  the  corporation  or  by  a  branch  office  or 
by  an  authorized  agent  of  the  corporation,  such  acceptance 
shall  reinstate  the  policy  in  full  as  to  disability  resulting  from 
accidental  bodily  injuries  sustained,  at  least  one  day  after  such 
acceptance  and  shall  only  reinstate  the  policy  as  to  disability 
from  disease  beginning  more  than  ten  days  after  the  date  of 
such  acceptance. 

(6)  That,  if  the  insured  is  injured  or  contracts  disease  after 
having  changed  his  occupation  to  one  classified  by  the  corpora- 
tion as  more  hazardous  than  that  stated  in  the  policy  or  while 
he  is  doing  any  act  or  thing  pertaining  to  any  occupation  so 
classified  (except  ordinary  duties  about  his  residence  or  while 
engaged  in  recreation),  the  corporation  shall  pay  such  propor- 
tion of  the  indemnities  provided  in  the  policy  as  the  premium 
paid  would  have  purchased  at  the  rate  and  within  the  limits 
fixed  by  the  corporation  for  such  more  hazardous  occupation 
according  to  the  corporation's  rates  and  classification  of  risks 
filed  with  the  superintendent  of  insurance  prior  to  the  occur- 
rence of  the  injury  or  the  commencement  of  the  disease  for 
which  indemnity  is  claimed. 

(7)  That  the  corporation  will  pay  the  benefits  promised 
within  sixty  days  of  the  receipt  by  it  of  due  proofs  of  death  or 
disability. 

(8)  That  the  policy  may  be  cancelled  at  any  time  by  the 
corporation  by  written  notice  delivered  to  the  insured  or  mailed 
to  him  at  his  last  address  as  shown  by  the  records  of  the  cor- 
poration and  the  tender  of  the  corporation's  check  for  the 
unearned  portion  of  the  premium,  but  that  such  cancellation 
shall  be  without  prejudice  to  any  claim  arising  on  account  of 
disability  commencing  prior  to  the  date  on  which  the  cancella- 
tion takes  eifect. 

(9)  That  the  policy  shall  be  cancelled  at  the  request  of  the 
insured  at  any  time  and  the  unearned  premium  returned  to 
him  at  customary  short  rates,  corresponding  to  those  used  in 
fire  insurance. 

(2)  Provisions  prohibited;  (a)  proof  of  claims;  (b)  limita- 
tion of  action;  (c)  deduction;  (d)  other  insurance. 

2.  No  such  policy  shall  be  so  issued  or  delivered  in  this  state, 
if  it  contains,  in  substance,  any  provision : 


1960  MUTUAL  BENEFIT  SOCIETIES.  164 

a.  Limiting  the  time  within  which  proofs  of  claims  shall  be 
furnished  to  the  corporation  to  a  period  less  than  ninety  days 
from  the  date  of  death,  dismemberment,  or  loss  of  sig"ht,  or 
from  the  termination  of  any  other  disability. 

b.  Liriiiting  the  time  within  which  an  action  at  law  or  in 
equity  may  be  commenced  to  less  than  two  years  from  the  date 
when  the  final  proof  of  claim  is  filed  with  the  corporation. 

c.  Authorizing  the  deduction  of  any  premium  or  assessment 
from  any  indemnity  paya])le  under  the  terms  of  the  policy, 
except  such  premium  or  assessment  as  may  be  due  or  covered 
by  written  order  or  note  at  the  time  of  payment  of  the  indem- 
nity. 

d.  Limiting  the  amount  of  indemnity  to  be  paid  to  a  sum  less 
than  the  indemnity  as  stated  in  the  policy  and  for  which  the 
premium  has  been  paid;  provided,  however,  if  the  assured  shall 
carry  other  insurance  covering  the  same  hazard,  without  giving 
written  notice  to  the  companies,  corporations,  or  associations 
issuing  the  policies,  then  and  in  that  case  each  or  any  company, 
corporation,  or  association  may  limit  its  liability  to  such  pro* 
portionate  amount  of  benefits  as  the  indemnity  promised  bear?^ 
to  the  total  amount  of  indemnity  in  all  the  policies  covering 
such  hazard,  and  for  the  return  of  such  part  of  the  premium 
paid  as  shall  exceed  the  pro  rata  of  the  premium  for  the  bene- 
fits paid. 

(3)  Contrary  provision  ineffective. 

3.  A  policy  issued  in  violation  of  this  section  shall  be  held 
valid  but  shall  be  construed  as  provided  in  this  section,  and 
when  any  provision  in  such  a  policy  is  in  conflict  with  any  pro- 
vision of  this  section,  the  rights,  duties,  and  obligations  of  the 
corporation  and  policy  holder  and  the  beneficiary  shall  be 
governed  by  the  provisions  of  this  section. 

(4)  Provisions  required  by  foreign  law. 

4.  The  policies  of  insurance  against  any  of  the  risks  specified 
in  sul)sections  4  and  5  of  section  1897,  issued  by  a  corporation 
not  organized  under  the  laws  of  this  state,  may  contain  any 
provision  which  the  law  of  the  state,  territory,  or  district  of  the 
United  States,  or  of  a  country  outside  the  United  States  (under 
which  the  corporation  is  organized)  prescribes  shall  be  in  such 
policies  when  issued  in  this  state;  and  such  policies  of  insur- 
ance issued  by  a  domestic  corporation  may,  when  issued  or  de- 
livered in  any  other  state,  territory,  district,  or  country  con- 
tain any  provision  required  by  the  laws  of  the  state,  territory, 
district,  or  country  in  which  the  same  are  issued,  anything  in 
this  section  to  the  contrary  notwithstanding. 


^^5  MUTUAL  BENEFIT  SOCIETIES.  19C0 

(5)  Workman's  collective  policy. 

5.  Nothing  in  this  section,  however,  shall  apply  to  or  affect 
any  general  or  blanket  policy  of  insurance  issued  to  any  mu- 
nicipal corporation  or  department  thereof,  or  to  any  corpora- 
tion, co-partnership,  association,  or  individual  employer,  police 
or  fire  department,  underwriters'  corps,  salvage  bureau,  or  like 
associations  or  organizations,  where  the  officers,  members,  or 
employees  or  classes  of  departments  thereof  are  insured  against 
specified  accidental  bodily  injuries  or  diseases  while  exposed  to 
the  hazards  of  the  occupation  or  otherwise,  in  consideration  of 
a  premium  intended  to  cover  the  risks  of  all  the  persons  in- 
sured under  such  policy. 

(6)  Life  policies. 

6.  Nothing  in  this  section  shall  apply  to  or  in  any  way  affect 
contracts  of  life  insurance  or  contracts  supplemental  thereto 
which  shall  contain  provisions  intended  to  safeguard  such  life 
insurance  against  lapse  that  shall  provide  a  special  surrender 
value  therefor,  in  the  event  that  the  insured  thereunder  shall, 
by  reason  of  accidental  bodily  injury  or  disease,  be  unable  to 
continue  the  premium  payment  thereon. 

(7)  Penalty. 

7.  Any  corporation  or  association  to  which  this  section  ap- 
plies, or  any  officer  or  agent  thereof,  which  or  who  issues  or 
delivers  in  this  state,  or  to  any  citizen  thereof,  any  accident  or 
health  policy  or  contract  in  wilful  violation  of  the  provisions 
of  this  section  shall  be  punished  by  a  fine  of  not  less  than 
twenty-five  nor  more  than  five  hundred  dollars,  or  by  imprison- 
ment in  the  county  jail  not  exceeding  six  months,  or  by  both 
such  fine  and  imprisonment. 


HAIL  INSURANCE  COMPANIES,  FOREIGN. 

1966—1  (1898;  ch.  10(5,  1905.) 

Admission;  conditions;  attorney;  service  of  process;  fees. 
Section  1966—1.  It  shall  be  lawful  for  hail  insurance  com- 
panies organized  under  the  laws  of  any  other  state  to  insure 
crops  in  this  state  against  loss  or  damage  by  hail  upon  com- 
plying with  the  following  conditions:  Such  company  shall 
within  the  month  of  January  in  each  year,  file  with  the  com- 
missioner of  insurance  a  statement  showing  its  financial  con- 
dition and,  if  a  stock  company,  the  amount  of  capital  stock, 
the  amount  of  said  stock  paid  in  in  cash  and  the  amount  in 


1966—1  HAIL  INSURANCE— FOREIGN.  166 

notes  of  the  stockholders,  the  names  and  residences  of  the 
stockholders  on  the  thirty-first  day  of  December  of  each  year; 
and  such  company  shall  thereupon  obtain  from  said  commis- 
sioner a  certificate,  under  his  hand  and  seal  of  office  author- 
izing it  to  do  business  in  this  state  for  the  next  ensuing'  year, 
and  certifying  that  he  has  examined  into  the  affairs  thereof; 
that  the  stockholders,  in  case  of  a  stock  company,  are  solvent 
and  responsible,  able  to  pay  at  once  their  stock  notes  and  any 
liability  that  attaches  to  them  as  stockholders;  that  the  whole 
amount  of  stock  subscribed  is  not  less  than  twenty-five  thou- 
sand dollars,  and  that  said  company  is  solvent,  as  he  verily  be- 
lieves; provided,  that  the  stockholders  on  the  thirty-first  day 
of  December  in  each  year,  as  shown  to  the  commissioner  and 
as  they  appear  in  his  said  certificate,  shall  remain  liable  as  such 
stockholders  for  one  year  from  that  date  whether  said  stock  is 
disposed,  of  or  not;  and  provided  further,  that  such  company 
receiving  such  certificate,  shall  at  or  prior  to  receiving  the  same, 
file  with  said  commissioner  a  stipulation  to  the  effect  that  in 
all  suits  brought  against  it  in  this  state  service  of  summons  shall 
be  made  upon  said  company  by  leaving  a  copy  of  the  summons 
with  said  commmissioner,  and  service  so  made  shall  have  the 
same  effect  as  if  made  upon  a  corporation  of  this  state ;  and 
provided,  further,  that  such  company  shall  paj^  the  same  fees 
and  taxes  as  are  provided  by  law  in  ease  of  foreign  life  insur- 
ance companies. 


FOREIGN  CASUALTY  COMPANIES. 

1966—32 

Admission;  condition  of  doing  business. 

Section  1966 — 82.  Any  casualty- insurance  or  suretyship  cor- 
poration organized  under  the  laws  of  any  other  state  or  foreign 
country  may  be  admitted  to  transact  business  in  this  state  by 
filing  with  the  commissioner  of  insurance,  for  his  approval,  the 
following  documents  and  papers: 

1.  An  application  for  license  to  do  business  in  this  state,  set- 
ting forth  the  full  name  of  the  corporation,  the  location  of  its 
principal  office  of  business  and,  separately,  the  several  kinds  of 
business  to  be  transacted ;  said  application  to  be  signed  only  by 
the  president  or  general  manager. 

2.  A  statement  verified  by  the  oath  of  the  president,  secre- 
tary or  manager  residing  in  the  United  States,  showing  to  the 
satisfaction  of  said  commissioner  that  the  corporation  has  a 
capital  stock  of  at  least  one  hundred  thousand  dollars  and  has 


167  FOREIGN   CASUALTY    COMPANIES.  1966—2 

.1  like  amount  invested  in  securities  deposited  with  the  super- 
intendent of  the  insurance  department,  state  treasurer  or  other 
])roper  officer  of  some  one  of  the  states  of  the  United  States, 
that  such  securities  are  not  pledged  or  incumbered  and  have 
a  market  value  of  at  least  one  hundred  thousand  dollars,  but 
nre  held  and  remain  for  the  benefit  and.  security  of  the  policy- 
holders of  such  corporation  residing  in  the  United  States,  ot 
in  default  of  such  statement  shall  deposit  with  the  state  treas- 
urer, for  the  benefit  and  security  of  policyholders  residing  in 
this  state,  not  less  than  fifty  thousand  dollars  in  such  securities; 
j)rovided,  that  if  such  corporation  shall  desire  to  do  business 
under  more  than  one  of  the  subdivisions  of  section  1966 — 25  it 
shall  make  an  additional  deposit  of  fifty  thousand  dollars  in 
securities  as  aforesaid  for  each  additional  subdivision  that  it 
desires  to  do  business  under.  The  stocks  and  securities  so  de- 
posited may  be  exchanged  from  time  to  time  for  other  securities 
to  be  approved  by  the  commissioner  of  insurance,  and  so  long 
as  the  corporation  so  depositing  shall  continue  solvent  and  com- 
ply with  the  laws  of  this  state  it  may  be  permitted  by  the  state 
treasurer  to  collect  the  interest  or  dividends  on  said  securities. 

3.  A  copy  of  its  charter  and  by-laws,  duly  certified  to  by  the 
superintendent  of  the  insurance  department  or  other  proper  of- 
ficer of  the  state  or  <iountry  wherein  incorporated,  together  with 
a  certificate  of  such  officer  that  the  corporation  is  duly  organ- 
ized and  licensed  to  transact  the  business  of  casualty  or  fidelity 
insurance  in  such  state  or  country,  stating  separately  the  differ- 
ent kinds  as  provided  in  section  1966 — 25,  together  with  an  ap- 
pointment of  the  commissioner  of  insurance  of  this  state  and  his 
successors  in  office  an  attorney  upon  whom  any  summons,  notice 
or  process  of  any  court  of  this  state  may  be  served,  as  required 
of  fire  insurance  corporations  of  other  states. 

4.  A  complete  statement  of  the  financial  condition,  as  shown 
l)y  the  last  annual  statement  of  the  insurance  department  of  the 
state  or  country  wherein  incorporated,  and  a  financial  state- 
ment showing  the  condition  of  the  corporation  on  the  first  day 
of  the  month  next  preceding  the  date  of  application.  All  such 
corporations  admitted  to  transact  business  in  this  state  must 
comply  with  the  laws  governing  like  corporations  organized 
under  the  laws  of  this  state,  except  as  hereinbefore  provided, 
and  all  such  corporations  and  all  persons  acting  as  agents 
thereof  shall  be  subject  to  the  same  penalties  prescribed  by 
these  statutes  relating  thereto  for  a  violation  of  any  of  the 
provisions  thereof  and  to  the  same  methods  for  the  enforcement 
of  such  penalties. 

Section  1966—32  referred  to  in  section  2637   (9). 


1966— 33a  CASUALTY  COMPANIES.  168 

1966— 33a  (Ch.  106,  1903;  ch.  663,  1911,  in  effect  July  21, 1911.) 
Fidelity  bond  in  justice  court;  form;  certificate  to  accom- 
pany. 

Section  1966 — 33a.  Whenever  a  justice  of  the  peace  in  a 
civil  action  shall  require  the  plaintiff  to  give  security  for  costs 
or  other  purposes,  such  security  may  be  given  by  filing  an  un- 
dertaking by  any  surety  company  authorized  to  do  business  in 
this  state,<  executed  either  before  or  after  commencement  of  the 
action,  in  which  undertaking  the  surety  company  shall  agree  to 
become  surety  for  costs  or  for  costs  and  damages,  or  otherwise, 
as  required  by  law  in  the  action.  The  undertaking  may  be  sub- 
stantially in  the  following  form: 

Whereas  an  action  has  been  commenced  (or  is  about  to  be  com- 
menced) in  a  justice  court  in  the  county  of in  which 

action is  plaintiff  and is  defendant. 

Now,  therefore,  the company,  a  surety  company  duly 

authorized  by  law  to  do  business  in  the  state  of  Wisconsin,  undertakes 
and  agrees  to  become  surety  for  costs,  (or  for  costs  and  damages)   in 

said  action Dated    ,  19 

, Company  , by 

The  undertaking,  when  filed,  shall  be  accompanied  with  the 
certificate  of  the  commissioner  of  insurance,  or  a  copy  thereof 
duly  certified  by  him,  mentioned  in  section  1966 — 34.     *     *     * 

Section  1966— 33a  is  referred  to  in  1966—34. 

1966—34  (1898;  chs.  190  and  664,  1911,  in  effect  May  27  and 
July  22,  1911.) 
Fidelity  bond,  certificate  of  authority,  omission. 

Section  1966 — 34.  1.  The  commissioner  of  insurance,  upon 
due  proof  by  a  suretyship  company  of  its  possessing  the  quali- 
fications required,  shall  issue  a  certificate  setting  forth  that  it 
has  qualified  and  is  authorized  for  the  ensuing  year  to  do  busi- 
ness under /these  statutes,  which  certificate  or  a  copy  thereof 
certified  by  the  commissioner  of  insurance  shall  be  evidence  of 
such  qualification  and  of  the  company's  authority  to  become 
and  to  be  accepted  as  sole  surety  on  all  instruments  mentioned 
in  *  *  *  sections  1966—33^and  1966— 33a,  of  its  solvency 
and  credit  for  all  purposes  and  its  sufficiency  as  such  surety; 
and  said  certificate  or  a  copy  thereof  certified  as  aforesaid  shall 
be  equivalent  to  tlie  justification  required  of  sureties  by  law. 

2.  No  bond,  undertaking,  or  instrument  executed  by  any  surety 
company  authorized  to  do  husiness  in  this  state  at  such  time,  shall 
he  held  invalid  or  imeffective  because  of  the  omission  of  such  cer- 
tificate or  a  certified  copy  thereof ;  provided,  however,  that  the 
court  in  which,  or  the  officer  with  whom,  any  such  bond,  under- 
taking, or  instrument  shall  be  filed,  or  any  person  who  might  claim 
the  benefit  thereof,  may  require  the  person  filing  such  bond,  un- 


169  CASUALTY  COMPANIES.  1966—34 

dertaking,  or  instrument  to  file  such  certificate,  or  a  certified  copy 
thereof,  in  such  court,  or  ivith  such  officer,  upon  giving  eight  days 
notice  in  writing  to  the  person  filing  such  hoiul,  instrument^  or 
undertaking,  and  if  such  person  shall  fail  to  file  such  certificate 
or  a  certified  copy  the\reof  within  such  period,  such  bond,  instru- 
ment, or  undertaking  slmll  he  valid,  hut  shall  he  of  no  effect  for 
the  pitrrposes  of  the  person  so  filing  the  same,  unless  such  person 
shM  before  the  expiration  of  such  time  file  such  other  and 
further  bond,  undertaking,  or  instrument  as  originally  required. 
Section  2.  Any  and  all  acts  or  parts  of  acts  conflicting^  or 
inconsistent  with  the  provisions  of  this  act  are  hereby  repealed. 

1966-^5  . 

Release  from  liability  or  fidelity  bond. 

Section  1966 — 35.  Any  corporation  executing  any  instni- 
[ment  within  section  1966 — 33  may  be  released  from  its  liability 
phereon  on  the  same  terms  and  conditions  as  are  or  may  be  by 
law  prescribed  for  the  release  of  individuals  upon  the  same. 

1966—36  (1898;  sec.  30,  ch.  351,  1899.) 

Fidelity  bond  premium,  changeable  as  acts  or  disburse- 
ments. 

Section  1966 — 36.  Any  receiver,  assignee,  guardian,  com- 
mittee, trustee,  executor,  administrator  or  other  judiciary,  re- 
quired by  law  or  the  order  of  any  court  or  judge  to  give  a 
bond  or  other  obligation  as  such,  may  include  as  a  part  of  the 
lawful  expense  of  executing  his  trust  such  reasonable  sum  paid 
a  corporation  authorized  by  law  so  to  do  for  becoming  his 
surety  on  such  bond  or  obligation  as  may  be  allowed  by  the 
court  in  which  or  the  judge  before  whom  he  is  allowed  or  re- 
(juired  to  account,  not  exceeding  one  per  cent  per  annum  on 
the  amount  of  such  bond  or  obligation  by  such  surety  exe- 
cuted; and  in  all  actions  or  proceedings  the  party  entitled  to 
recover  costs  may  include  therein  such  reasonable  sum  as  may 
liave  been  paid  by  him  to  such  corporation  for  executing  or 
guaranteeing  any  bond  or  obligation  therein,  not  exceeding 
two  per  centum  of  the  amount  of  such  obligation. 

1966-37 

Deposit  of  money  by  principal  or  fidelity  bond. 
Section  1966 — 37.  Anv  receiver,  assignee,  sruardian,  trustee, 
committee,  executor,  administrator,  or  other  fiduciaiy  or  party 
of  whom  a  bond,  undertaking  or  other  obligation  is  required 
may  agree  and  arrange  with  his  surety  or  sureties  for  the  de- 
posit for  safe  keeping  of  any  or  all  money,  assets  and  other 


1966—37  CASUALTY  COMPANIES.  170 

property  for  wliicli  he  is  or  may  be  responsible,  with  a  bank,;: 
savings  bank,  safe  deposit  or  trust  company  authorized  by  law| 
to  do  business  as  such,  and  in  such  manner  as  to  prevent  tlie 
withdrawal  or  alienation  of  such  money,  assets  or  other  prop- 
erty or  any  part  thereof,  without  the  written  consent  of  such 
surety  or  sureties  or  an  order  of  the  court  or  a  judge  thereof, 
made  on  such  notice  to  such  surety  or  sureties  as  the  court  or 
judge  may  direct. 

1966—38  (1898;  ch.  436,1903;  ch.  205,  1905;  ch.  329,  1911,  in 
effect  June  15,  1911.^ 
Fidelity  bond,  expense,  limitation. 

Section  1966 — 38.  The  state,  any  county,  town,  village 
*  *  *  city  or  school  district  may  pay  *  ^'  *  the  cost  of 
any  official  bond  furnished  by  *  *  *  an  officer  thereof, 
pursuant  to  law  or  any  rules  or  regulations  requiring  the  same, 
if  said  officer  shall  furnish  a  bond  with  a  surety  company  or 
companies  authorized  to  do  business  in  this  state,  said  cost  not 
to  exceed  *  *  *  one- fourth  of  one  per  cent  *  *  *  per 
annum  on  the  amount  of  said  bond  or  obligation  by  said  surety 
executed,     *     *     *. 

1966—39  I 

Fidelity  bond;  estoppel.  j 

Section  1966 — 39.  Any  corporation  which  shall  execute  any 
bond,  recognizance,  obligation,  stipulation  or  undertaking  as 
surety  shall  be  estopped,  in  any  proceeding  to  enforce  the  lia- 
bility which  it  shall  have  assumed  to  incur,  to  deny  its  power 
to  execute  the  same  or  assume  such  liability. 

1966—40 

Credit  gfuarantee  business;  powers. 
Section  1966 — 40.  Any  corporation  organized  under  the 
laws  of  this  state  or  licensed  to  do  a  credit  guarantee  business 
therein  ma>'  guarantee  from  loss  and  agree  to  pay  to  mer- 
chants, manufacturers,  dealers  and  other  persons  engaged  in 
business  and  giving  credit  in  the  same  the  debt  or  debts  owing 
to  them,  indemnify  them  from  loss,  charge  and  receive  there- 
for such  a  sum  as  consideration  for  such  agreement  of  indem- 
nity as  shall  be  agreed  upon,  buy,  hold,  own  and  take  an  as- 
signment cf  any  and  all  claims,  accounts  and  demands  so  guar- 
anteed and  hold,  own  and  collect  the  same  and  enforce  the  col- 
lection thereof  by  action  the  same  as  the  original  holder  and 
owner  thereof  might  or  could  do;  and  may  also  insure  the  pay- 
ment of  money  for  personal  services  under  contracts  of  hiring. 


171  CASUALTY  COMPANIES.  1966—40 

Any  such  corporation  may  use  its  capital  stock  or  other  funds 
to  purchase  or  pay  for  any  claim  or  demand  the  payment  of 
which  it  has  guaranteed. 

1966—42 

Employer's  liability  policy;  conditions  to  be  specified. 

Section  1966 — 42.     No  casualty  corporation  issuing  employ 
er's  liability  policies  shall  condition  the  same  upon  compliance 
by  the  assured  with  **any  law  or  ordinance  respecting  the 
safety  of  persons,"  but  shall  clearly  and  distinctly  state  what 
conditions  and  requirements  are  to  be  complied  with  by  him. 

1966—44 

Dividends;  liability  of  directors  and  stockholders;  limita- 
tion. 

Section  1966 — 44.  The  directors  of  any  such  corporation 
shall  not  make  any  dividend,  except  from  the  surplus  profito 
arising  from  their  business,  nor  divide,  withdraw  or  in  any  way 
pay  to  the  stockholders  or  any  of  them  any  part  of  its  capital 
or  reduce  the  net  surplus  of  the  corporation  to  an  amount  less 
than  ten  per  cent,  of  its  capital  stock,  except  as  authorized  by 
law.  For  a  violation  of  any  of  the  provisions  of  this  section 
the  directors  under  whose  administration  the  same  happened 
(except  those  who  have  caused  dissent  therefrom  to  be  entered 
at  large  upon  the  minutes  of  such  directors'  meeting  at  the 
time  or  were  not  present  when  the  action  was  taken)  slial) 
jointly  and  severally  be  liable  to  the  corporation  and  its  cred- 
itors to  the  full  amount  of  the  capital  of  the  corporation  so 
divided,  withdraw,  paid  out  or  reduced.  In  estimating  such 
profits  there  shall  be  reserved  therefrom  a  sum  equal  to  the 
whole  amount  of  unearned  premiums  on  unexpired  risks  and 
policies,  all  sums  due  the  corporation  on  bonds,  mortgages, 
stocks  and  book  accounts  of  which  no  part  of  the  principal  or 
the  interest  thereon  has  been  paid  during  the  last  year  and  for 
the  collection  of  which  no  action  or  proceedings  has  been  com. 
menced,  or  which,  after  judgment  obtained  thereon,  shall  re- 
main more  than  two  yeai's  unsatisfied  and  on  which  interest 
shall  not  have  been  paid  all  interest  due  and  remaining  unpaid 
and  all  deposits  for  the  special  protection  of  policyholders  of 
other  states  or  of  foreign  countries.  Any  such  corporation  may 
declare  dividends  in  any  year  not  exceeding  ten  per  cent,  of 
its  capital  stock,  if,  in  addition  to  the  amount  of  such  stock, 
plus  ten  per  cent,  thereof  and  of  such  dividends  and  all  its  out- 
standing liabilities  it  shall  have  accumulated  and  be  in  pos- 


1966—44  CASUALTY  COMPANIES.  172 

session  of  a  lawful  fund  equal  to  the  amount  of  all  unearned: 
premiums  on  risks  not  terminated  at  the  time  of  making  such 
dividend.  No  dividend  in  excess  of  said  ten  per  cent,  of  its 
capital  stock  shall  be  declared  as  hereinbefore  provided  until 
such  corporation  shall  be  in  possession  of  a  net  surplus  equal  to 
one-half  of  its  capital  stock.  Any  dividend  made  contrary  to 
these  provisions  shall  be  cause  for  the  forfeiture  of  the  charter 
of  the  corporation  making  it,  and  each  stockholder  receiving 
such  dividend  shall  be  liable  to  its  creditors  to  the  extent  of 
the  dividend  received,  in  addition  to  the  other  penalties  and 
punishments  prescribed  by  law.  The  word  ''year,''  whenever 
used  in  this  section,  shall  not  be  construed  to  mean  the  calen- 
dar year. 
See  sections  1906  to  1908a. 


1966—45 

Capital  stock;  dividend;  increase;  consent  of  directors;  of 
stockholders- 

Section  1966 — 45.  Any  domestic  casualty  insurance  or 
suretyship  corporation,  whenever  it  shall  have  accumulated 
and  be  in  possession  of  a  fund,  in  addition  to  the  amount  of 
its  capital  stock  and  all  actual  outstanding  liabilities,  including 
re-insurance  reserve  in  excess  of  one-half  of  the  amount  of  all 
premiums  on  risks  not  terminated,  may  increase  its  capital 
stock  from  such  fund  and  distribute  the  increase  pro  rata  to  its 
stockholders;  provided,  that  such  increase  shall  be  equal  to  at 
least  twenty-five  per  cent,  of  the  original  capital  stock  and  shall 
have  been  authorized  by  at  least  three-fourths  of  the  directors 
and  approved  by  the  commissioner  of  insurance,  and  that  any 
such  corporation  may  declare  a  dividend  as  provided  in  the 
preceding  section.  It  may  at  any  time  increase  its  capital 
stock  (after  notice  of  such  intention  given  once  a  week  for  four 
weeks  in  any  newspaper  published  in  the  county  where  such 
corporation  is  located),  with  the  written  consent  of  three- 
fourths  in  amount  of  its  stockholders,  unless  otherwise  provided 
in  its  articles  of  organization,  by  altering  or  amending  the  same 
in  this  respect  and  filing  a  copy  thereof.  So  amended,  together 
with  a  declaration  under  its  corporate  seal,  signed  by  its  presi- 
dent and  directors,  of  its  desire  so  to  do,  with  such  written 
consent  of  its  stockholders  to  such  increase,  in  the  office  of  the 
commissioner  of  insurance,  whereupon  the  same  proceedings 
shall  be  had  as  are  required  upon  the  organization  of  such  a 
corporation. 


173  CASUALTY  COMPANIES.  1966—46 

1966—46 

Impairment  of  capital,  how  made  good. 

Section  1966 — 46.  Whenever  it  shall  appear  to  the  com- 
missioner of  insurance,  from  any  statement  made  to  him,  from 
an  examination  made  by  him,  or  by  any  examiner  appointed 
by  him  that  the  capital  stock  of  any  such  corporation  is  im- 
paired to  an  amount  exceeding  twenty  per  cent,  thereof,  and 
he  shall  be  of  the  opinion  that  the  interest  of  the  public  will 
not  be  prejudiced  by  permitting  such  corporation  to  continue 
business  with  a  reduced  capital,  such  corporation  may,  with 
liis  permission,  reduce  its  capital  stock  and  the  part  value  of  the 
shares  thereof  to  such  an  amount  as  he  shall  certify  to  be  in  his 
opinion  justified  by  the  assets  of  such  corporation;  but  no  part 
of  such  assets  shall  be  distributed  to  the  stockholders,  nor  shall 
such  capital  stock  be  reduced  to  an  amount  less  than  the  sum 
required  by  law  for  the  organization  of  a  new  corporation  for 
the  transaction  of  the  same  kind  of  business  as  the  corporation 
is  engaged  in.  Such  a  reduction  of  the  capital  shall  only  be 
made  upon  a  vote  of  a  majority  of  the  stock  represented  at  a 
meeting  legally  called  for  that  purpose.  If  in  the  opinion  of 
the  commissioner  of  insurance,  such  reduction  will  not  be  to 
the  interest  of  the  policyholders,  or  in  the  event  of  the  refusal 
of  the  stockholders  to  consent  thereto,  he  shall  determine  the 
amount  of  the  impairment  or  deficiency  and  issue  a  written 
requisition  to  the  corporation  requiring  its  stockholders  to 
make  good  the  amount  of  impairment  or  deficiency  within  such 
period  as  he  may  designate,  not  less  than  thirty  nor  more  than 
ninety  days  from  the  service  of  the  requisition.  Upon  receipt 
of  such  requisition  the  directors  shall*  forthwith  call  upon  the 
stockholders  ratably  for  such  amounts  as  will  make  up  such 
impairment  or  deficiency.  If  any  stockholder  refuse  or  neglect 
to  pay  the  amount  called  for  after  notice,  given  personally  or 
by  advertisement,  in  such  time  as  will  comply  with  the  order  of 
said  commissioner  the  directors  may,  by  resolution,  declare  the 
stock  of  such  person  cancelled;  but  such  failure  to  pay  shall 
not  release  the  stockholder  from  any  liability  to  the  corpora- 
tion. The  directors  may  issue  new  certificates  of  stock  in  lieu 
of  the  stock  so  forfeited  and  dispose  of  the  same  at  not  less 
than  par.  For  any  losses  accruing  upon  new  risks  taken  after 
the  expiration  of  the  period  limited  by  the  commissioner  of  in- 
surance in  any  such  order  and  before  such  impairment  shall  be 
made  up,  the  directors  shall  be  jointly  and  severally  liable  to 
the  extent  thereof;  and  any  transfer  of  stock  made  during  the 
pendency  of  any  such  examination  or  after  any  such  order  shall 
have  been  made  and  before  any  impairment  or  deficiency  speci- 


1966—46  CASUALTY  COMPANIES.  174 

fied  therein  shall  be  made  good,  shall  not  Telease  the  person 
making  the  transfer  from  his  liability  for  loss  accruing  pre- 
vious thereto.  If  the  amount  of  such  impairment  or  deficiency 
shall  not  be  made  good  within  the  time  specified  in  such  order 
the  corporation  shall  be  deemed  insolvent,  and  it  shall  be  the 
duty  of  the  commissioner  of  insurance  and  the  attorney-general 
to  apply  forthwith  for  the  appointment  of  a  receiver  and  the 
forfeiture  of  its  franchises. 

1966—47 

Reserve  liability. 

Section  1966 — 47.  In  computing  the  reserve  liability  of 
casualty  insurance  and  suretyship  corporations  the  commis- 
sioner of  insurance  shall  make  such  calculations  as  in  his  judg- 
ment are  equitable  and  just  to  both  policyholders  and  the  com- 
pany; provided,  that  such  liability  so  determined  shall  not  be 
less  than  fifty  per  cent,  of  the  premiums  written  in  the  com- 
pany's policies. 

1966—48 

Re-insurance  by  receiver. 

Section  1966 — 48.  The  receiver  of  any  casualty  insurance  or 
suretyship  corporation,  when  authorized  by  the  court  so  to  do, 
may  re-insure  all  its  policy  risks  in  any  solvent  corporation  au- 
thorized to  do  a  similar  business  in  this  state,  if  the  assets  of 
the  corporation  of  which  he  is  receiver  are  sufficient  to  effect 
such  re-insurance;  if  such  assets  are  insufficient  the  receiver, 
upon  the  like  consent,  may  re-insure  a  percentage  of  each  such 
risk  of  such  corporation  outstanding  to  the  extent  of  its  assets 
available  for  that  purpose. 

1966— 49a  (Ch.  235,  1901.) 

Notice  of  injury,  what  sufficient;  condition  to  be  printed  on 
policy;  service  of. 

Section  1966 — 49a.  It  shall  be  unlawful  for  any  accident  or 
casualty  insurance  company,  corporation  or  association  licensed 
to  transact  business  in  the  state  of  AVisconsin,  its  officers,  em- 
ployees or  agents  to  limit  by  any  means  or  in  any  manner  the 
time  for  the  service  of  any  notice  of  injury  that  may  be  required 
of  the  person  insured,  to  a  less  period  of  time  than  twenty  full 
calendar  days. 

The  time,  not  less  than  twenty  full,  calendar  days,  that  may 
be  required  of  any  insured  person  for  serving  a  notice  of  in- 
jury as  provided  in  section  1  of  this  act,  shall  be  clearly  and 
conspicuously  written  or  printed  upon  the  face  of  every  acci- 


175  DEPARTMENT  OP  INSURANCE.  1966— 4da 

dent  or  casualty  insurance  policy  or  certificate  issued  to  any 
person. 

The  deposit  in  any  postoffice  by  any  insured  person,  his  agent 
or  attorney,  of  a  registered,  postage  prepaid  letter,  containing 
the  proper  notice  of  injury  at  any  time  within  twenty  full, 
calendar  days  after  the  injury  received  by  the  assured,  prop- 
erly addressed  to  the  company,  corporation  or  association  issu- 
ing the  accident  or  casualty  policy  or  certificate  shall  be  a  law- 
ful and  sufficient  service  of  any  notice  of  injury  that  may  be 
required. 


THE  DEPARTMENT  OF  INSURANCE. 

1966y  (Chs.  484  and  644,  1911,  in  effect  June  30  and  July  22, 
1911.) 
Commissioner   of   insurance,    qualifications,    appointment, 
term. 

Section  1966y.  1.  The  governor,  by  and  with  the  advice 
and  consent  of  the  senate,  shall  appoint  a  commissioner  of  in- 
surance forthwith  upon  the  taking  effect  of  this  act,  and  every 
four  years  thereafter. '  Such  commissioner  shall  hold  office  for 
four  years  and  until  his  successor  is  appointed  and  qualified. 
Any  vacancy  shall  be  filled  by  the  governor  for  the  unexpired 
term,  subject  to  confirmation  by  the  senate,  but  such  appoint- 
ment shall  be  in  force  until  acted  upon  by  the  senate. 

2.  The  person  so  appointed  as  such  commissioner  shall  be 
known  to  possess  a  knowledge  of  the  subject  of  insurance,  and 
skill  in  matters  pertaining  thereto.  No  person  appointed  as 
such  commissioner  shall  hold  any  other  office  under  the  laws 
of  this  or  of  any  other  state  or  of  the  United  States.  Such 
commissioner  shall  devote  his  entire  time  to  the  duties  of  the 
office,  and  shall  not  hold  any  position  of  trust  or  profit,  engage 
in  any  occupation  or  business  interfering  with  or  inconsistent 
with  his  duties,  or  serve  on  or  under  any  political  committee 
or  as  manager  of  any  political  campaign  for  any  candidate  or 
party. 

3.  All  duties,  rights,  privileges,  powers,  compensation,  and 
liabilities,  now  by  law  granted  to  or  imposed  upon  the  com- 
missioner of  insurance,  are  merged  in  and  extended  to  the 
office  of  commissioner  of  insurance,  hereby  created,  so  that  the 
office  hereby  created  shall  in  all  respects  succeed  to  and  stand 
in  lieu  of  the  former  office  of  commissioner  of  insurance,  which 
is  abolished  from  and  after  the  taking  effect  of  the  first  ap- 
pointment under  this     *     *     *     section. 


1967  DEPARTMENT  OP  INSURANCE.  176 

1967  (1898;  chs.  180  and  425,  1905.) 
Commissioner's  oath,  bond,  etc. 
Section  1967.  Before  entering  upon  the  duties  of  his  office 
the  commissioner  of  insurance  shall  take  and  subscribe  to  an 
oath  of  office,  to  be  filed  with  the  secretary  of  state,  and  execute 
a  bond  to  the  state  of  Wisconsin  in  the  penal  sum  of  one  hun- 
dred thousand  dollars,  with  six  or  more  good  and  sufficient 
sureties  or  a  surety  company,  conditioned  for  the  faithful  per- 
formance of  his  duties,  which  bond,  when  approved  by  the  gov- 
ernor, shall  be  deposited  with  the  state  treasurer,  and  in  event 
that  the  commissioner  of  insurance  elects  to  give  a  surety  bond 
as  provided  herein,  the  cost  of  the  same  shall  be  borne  by  the 
state  providing  the  same  does  not  exceed  one-fourth  of  one  per 
cent,  per  annum  of  the  amount  of  said  bond.  Said  commis- 
sioner shall  have  an  official  seal,  and  shall  conduct  or  cause  to 
be  conducted  all  examinations  of  the  affairs  of  insurance  cor- 
porations that  are  or  may  be  required  by  law;  and  generally 
shall  exercise  such  provision  and  control  over  insurance  com- 
panies doing  business  in  this  state  as  the  law  may  require.  He 
shall  hold  his  office  in  the  capital  and  be  provided  with  postage, 
stationery,  printing  and  office  supplies,  the  expense  thereof  to 
be  paid  out  of  the  state  treasury.  All  reports  required  to  be 
made  by  any  insurance  corporation  shall  be  made  to  said  com- 
missioner. 


1967a  (1898;  ch.  503,  1905;  ch.  648,  1911,  in  effect  July  13, 
1911.) 
Deputy,  employees,  appointment,  filing. 
Section  1967a.  The  commissioner  of  insurance  may  appoint 
a  deputy  who  shall  be  known  as  deputy  commissioner  of  in- 
surance, and  who  shall  take  the  constitutional  oath  of  office 
and  file  it  in  the  office  of  the  secretary  of  state,  and  give  such 
bond  to  the  commissioner  as  he  may  prescribe.  The  said  com- 
missioner shall  be  responsible  for  the  acts  and  neglect  of  the 
deputy,  who  shall  have  the  same  power  over  all  matters  con- 
nected with  the  office  of  the  commissioner  of  insurance  as  the 
commissioner  has  whenever  detailed  by  him  to  do  special  acts, 
or  in  case  of  the  sickness  or  absence  of  the  commissioner  from 
the  capitol.  Said  commissioner  may  also  appoint  *  *  * 
sv^Ji  assistants  and  clerks  as  mentioned  in  subsection  14,  of  sec- 
tion 170.  All  such  appointments  shall  be  in  writing  and  be 
filed  in  the  office  of  the  secretary  of  state. 


177  DEPARTMENT  OF  INSURANCE.  1968 

;■-'•»".-'  ■  '♦■v,. 
1968  ""(18987  chs.  648  and  664,  1911,  in  effect  July  13  and  22, 
1911.) 
Examinations,  revocation  of  licenses,  admission,  deposit, 
employees,  expenses,  collection,  audit,  payment. 
Section  1968.    1.  The  commissioner  of  insurance  may  ad- 
dress inquiries  to  any  insurance     *     *     *     company  doing  busi- 
ness in  this  state  or  any  officer  thereof  in  relation  to  its  doings 
or  condition,  or  any  other  matter  connected  with  its  transac- 
tion ;  and  it  shall  be  the  duty  of  every     *     *     *     company,  or 
officer  so  addressed  to  promptly  reply  in  writing  to-  such  in- 
quiries; and 

2.  Whenever  he  shall  deem  it  expedient  so  to  do,  or  when 
any  responsible  person  shall  file  with  him  written  charges 
against  any  such  *  *  *  company  alleging  that  any  return 
or  statement  filed  by  it  with  such  commissioner  is  false,  or  that 
its  affairs  are  in  an  unsound  condition,  he  shall,  in  person,  or 
by  some  one  to  be  appointed  by  him  for  that  purpose,  not  an 
officer  or  agent  of,  or  in  any  manner  interested  in,  any  insur- 
ance *  *  *  company  doing  business  in  this  state,  except  as 
a  policy-holder,  examine  into  its  affairs  and  condition;  and  it 
shall  be  the  duty  of  the  *  *  *  company,  its  officers  or 
agents  to  cause  its  books  to  be  opened  for  inspection    *     *     *. 

3.  "Whenever  it  shall  appear  to  the  said  commissioner  from 
his  own  examination  or  the  report  of  the  person  appointed  by 
him,  that  *  *  *  any  foreign  company  examined  is  un- 
sound, he  shall  revoke  the  certificate  granted  such  company 
and  cause  a  *  *  *  notice  thereof  to  be  published  in  the 
official  state  paper  and  mail  a  copy  thereof  to  each  agent  of 
the  company  *  *  *.  The  agent  or  agents  thereof,  after 
such  notice,  shall  be  required  to  discontinue  doing  business  foi- 
such  company. 

4.  The  commissioner  shall  *  *  *  examine  insurance 
*  *  *  companies  applying  for  admission  to  transact  business 
in  this  state,  and  if  the  affairs  or  condition  of  any  such  *  *  * 
company  do  not  fully  meet  the  requirements  of  law  he  shall 
withhold  his  certificate. 

5.  The  commissioner  mxiy  require  from  any  insuroAice  com- 
pa/ny  amd  any  mutual  benefit  society,  before,  and  from  time  to 
time  during  any  examination,  a  deposit  with  him  of  such  amount 
as  he  shall  estimate  necessary  for  the  expense  of  such  examination. 
The  company  or  society,  through  the  commissioner,  as  ordered  by 
him,  shall  pay  into  the  state  treasury  the  actual  cost  of  such 
examination  in  expenses  paid  or  to  be  paid  by  the  state,  and  com- 
pensation to  persons  other  than  officers  and  employes  of  the  state, 
and  the  balance  deposited,  if  any,  shall  be  returned  to  the  com- 

12—1.  L.        ,  i    ;    , ,    ,  .  .1  _i     g    i_i  i^^^^' 


1968  DEPARTMENT  OF  INSURANCE.  178 

pci/)iy  or  society  making  such  deposit,  at  the  close  of  such  exami- 
nation. 

6.  The  commissioner  may  employ  such  persons  at  such  com- 
pensation fixed  by  him  in  advance  as  may  be  necessary  and  rea- 
sonable for  the  making  of  any  examination,  investigation  or 
pt^osecution  provided  for  by  law. 

7.  There  shall)  be  paid  out  of  the  state  treasury,  upon  vouchers 
approved  by  the  commissioner  and  audited  by  the  secretary  of 

>  state;  all  actual  and  reasonable  expenses  of  any  officer  or  employe 
of  the  department  of  insurance,  and  the  compensation  and  all 
such  expenses  of  any  person  employed  by  the  commissioner  of 
insurance  under  subsection  6. 

8.  Such  actual)  and  reasonable  expenses  shall  include  oidy  act- 
ual disbursements  for  railroad  fare  and  other  public  conveyance 
by  the  most  usual  and  most  direct  or  most  traveled  route,  sleeper, 
medbs,  rooms,  postage,  telegraph,  telepho7ie,  public  messenger  and 
stenographic  service. 

9.  There  is  appropriated  a  sum  sufficient  to  carry  out  the 
purposes  of  this  *  *  *  section,  not  exceeding  the  amount 
paid  into  the  state  treasury  under  this     *     *     *     section. 

1968f  (Chs.  581  and  664,  1911,  in  effect  July  7  and  22,  1911.) 
Testimony,    depositions,     witnesses,     compelling    at- 
tendance, stenographer,  fees. 
Section  1.     There  is  added  to  the  statutes  a  new  section  to 
read:  Section  1968f.     1.  The  commissioner  of  insurance  shall 
have  power  to  administer  oa.ths  and  to  require  and  compel  the 
attendance  of  witnesses  and  the  production  of  papers,  books, 
accounts,  documents,  records,  and  other  testimony,  in  any  in- 
vestigation,  examination,   action,    or .  proceeding  which  he   is 
authorized  to  make,  hear,  or  determine.     The  commissioner  or 
any  party  may,  in  any  such  investigation,  examination,  action, 
or  proceeding,  cause  the  depositions  of  witnesses  residing  with- 
in or  without  the  state  lo  be  taken  in  the  manner  prescribed 
by  law  for  like  depositions  in  civil  actions  in  circuit  court. 

2.  The  provisions  of  section  1797^13  shall  apply  to  any  case 
of  disobedience  on  the  part  of  any  person  or  persons  to  com- 
ply with  any  order  of  the  commissioner  or  any  subpoena,  or  on 
the  refusal  of  any  such  witness  to  testify  in  such  case. 

3.  The  commissioner  shall  also  have  power  to  employ  such 
stenographic  assistance  as  necessary  for  the  taking  and  pre- 
servation of  such  testimony. 

4.  The  same  fees  shall  be  paid  for  the  service  of  such  process 
and  for  the  travel  and  attendance  of  such  witnesses  and  for 
the  taking  of  such  depositions  as  provided  by  statute  for  civil 


179  DEPARTMENT  OF  INSURANCE.  ^  1968f 

cases  in  the  circuit  court,  and  the  fees  for  stenographic  service 
shall  not  exceed  the  sum  so  provided  for  such  services  in  the 
circuit  court.  Payment  thereof  shall  be  made  out  of  the  state 
treasury  upon  the  warrant  of  the  secretary  of  state  authorized 
by  the  certificate  of  the  commissioner  of  insurance. 

5.  There  is  appropriated  a  sum  sufficient  to  carry  out  the 
purposes  of  this     *     *     *     section, 

1969 

Restoration  of  capital;  duty  of  commissioner;  power  of 
company. 

Section  1969.  Any  insurance  corporation  which  shall  have 
been  directed  to  require  its  capital  to  be  made  good,  as  required 
in  the  preceding  section,  shall  forthwith  call  upon  its  stock- 
holders for  the  necessary  amount,  and  in  case  any  stockholder 
of  such  corporation  organized  under  the  laws  of  this  state  shall 
refuse  to  pay  the  amount  so  called  for,  after  notice  personally 
given  or  by  advertisement  in  such  time  and  manner  as  the  com- 
missioner of  insurance  shall  prescribe,  such  corporation  may  re- 
quire the  return  of  the  original  certificate  of  stock  held  by  him, 
and  in  lieu  thereof  issue  new  certificates  for  such  number  of 
shares  as  the  said  stockholders  may  be  entitled  to  in  the  propor- 
tion that  the  ascertained  value  of  the  funds  of  such  corpora- 
tion may  be  found  to  bear  to  the  original  capital ;  the  value  of 
such  shares  for  which  new  certificates  shall  be  issued  to  be  as- 
certained under  the  direction  of  said  commissioner,  the  corpora- 
tion paying  for  the  fractional  parts  of  shares ;  and  the  directors 
may  create  new  stock  and  dispose  of  the  same  to  an  amount 
sufficient  to  make  up  the  original  capital ;  and  in  the  event  of 
any  additional  losses  accruing  from  new  risks  taken  after  the 
expiration  of  the  period  limited  by  said  commissioner  for  the 
filling  up  of  the  deficiency  in  the  capital,  and  before  such  de- 
ficiency shall  have  been  made  up,  the  directors  or  trustees  shall 
be  individually  liable  to  the  extent  thereof.  The  transfer  of 
the  stock  of  any  such  corporation,  made  during  the  pending  of 
such  investigation,  shall  not  release  the  party  making  the  trans- 
fer from  his  liability  for  losses  which  may  have  occurred  pre- 
vious to  such  transfer. 

1970 

Reduction  of  capital. 

Section  1970.  Whenever  it  shall  appear  to  the  commissioner 
of  insurance,  from  an  examination  thereof,  that  the  capital  stock 
of  any  stock  insurance  corporation  organized  under  any  law 
of  this  state  is  impaired  to  an  amount  exceeding  twenty-five  per 


1970         DEPARTMENT  OF  INSURANCE.  180 

cent,  thereof,  and  he  shall  be  of  opinion  that  the  interests  of  the 
public  will  not  be  prejudiced  by  permitting  such  corporation 
to  continue  with  a  reduced  capital,  such  corporation  may,  with 
his  permission,  reduce  its  capital  and  the  par  value  of  the 
shares  thereof  to  such  amount  as  he  shall  certify  to  be  in  his 
opinion  justified  by  the  assets  and  property  of  such  corpora- 
tion; but  no  part  of  such  assets  and  property  shall  be  distrib- 
uted to  the  stockholders,  nor  shall  the  capital  stock  of  such  cor- 
poration be  reduced  in  any  case  to  an  amount  less  than  the  sum 
required  by  law  for  the  organization  of  a  new  corporation  for 
the  transaction  of  the  same  kind  of  business  at  a  place  where 
such  corporation  is  located.  Such  a  reduction  of  the  capital 
stock  shall  only  be  made  by  adoption  of  a  resolution  by  its  di- 
rectors, approved  and  signed  by  at  least  two-thirds  of  the 
directors,  and  by  its  president,  with  the  corporate  seal  affixed, 
and  filed  in  the  office  of  the  commissioner  of  insurance.  Upon 
the  filing  of  such  resolution  the  commissioner  of  insurance  shall 
execute  a  new  patent  to  such  corporation  to  conform  with  such 
reduced  capital,  and  the  articles  of  organization  shall  be  deemed 
to  be  amended  accordingly  in  respect  to  the  amount  of  its  capi- 
tal and  of  the  par  value  of  its  shares  so  as  to  conform  to  such 
reduction.  Such  corporation  may  require  the  return  of  the 
original  certificate  of  stock  held  by  each  stockholder  and  in  lieu 
thereof  issue  new  certificates  of  such  number  of  shares  as  each 
stockholder  may  be  entitled  to. 

1970m  (Ch.  152,  1911,  in  effect  May  13,  1911.) 

Section  1970m.  1.  The  commissioner  of  insurance  may  ap- 
ply on  a  verified  petition  to  the  circuit  court  or  the  presiding 
judge  thereof,  in  the  county  in  which  the  home  office  of  any 
domestic  insurance  company  or  fraternal  or  mutual  benefit  so- 
ciety is  located,  for  the  order  mentioned  in  the  following  sub 
section,  whenever  such  company  or  society: 

a.  is  insolvent;  or 

b.  has  refused  to  submit  its  books,  papers,  accounts,  or  af- 
fairs to  the  reasonable  inspection  and  examination  of  the  eotri 
missioner,  his  deputy,  or  examiner;  or 

c.  has  neglected  or  refused  to  obey  an  order  of  the  commis 
sioner  to  make  good  within  the  time  prescribed  by  such  order 
pursuant  to  law  any  deficiency,  whenever  its  capital,  of  a  stock 
company,  or  its  reserve,  if  a  mutual  company,  shall  have  be- 
come impaired ;  or 

d.  has,  by  contract  of  re-insurance  or  otherwise,  transferred 
or  attempted  to  transfer  its  entire  property  or  business,  or 
entered  into  any  transaction,  the  effect  of  which  is  to  mergre 
substantially  its  entire  property  or  business  in  the  property 


181  DEPARTMENT   OP    INSURANCE.  1970  . 

or  business  of  any  other  company  or  society,  without  having 
first  obtained  the  written  approval  of  the  commissioner;  or 

e.  is  found,  upon  examination,  to  be  in  such  condition  that 
its  further  transaction  of  business  will  be  hazardous  to  its 
policyholders,  or  to  its  creditors,  or  to  the  public ;  or 

f.  has  wilfully  violated  its  charter  or  articles  of  incorpora- 
tion, or  any  law  of  the  state ;  or 

g.  any  officer  thereof  has  refused  to  be  examined  on  oath 
touching  its  affairs. 

2.  a.  On  such  application,  an  order  may  be  made  directing 
the  company  or  society  to  show  cause  why  the  commissioner 
should  not  take  possession  of  its  property  and  conduct  its 
business,  and  for  such  other  relief  as  the  nature  of  the  case  and 
the  interests  of  its  policyholders,  creditors,  stockholders,  and 
the  public  may  require. 

b.  The  court  may  also,  at  any  time  after  such  application, 
issue  an  injunction  restraining  such  company  or  society  from 
the  transaction  of  its  business  or  disposition  of  its  property, 
and  may  authorize  the  commissioner  to  immediately  enter  into 
the  possession  of  such  property  and  the  conduct  of  such  busi- 
ni^ss,  until  the  further  order  of  the  court. 

c.  On  the  return  of  the  order  to  show  cause,  and  after  a  full 
hearing,  the  court  shall  either  deny  the  application  or  direct 
the  commissioner  forthwith  to  take  possession  of  the  property 
and  conduct  the  business  of  such  company  or  society,  and  re- 
tain such  possession  and  conduct  such  business  until  on  the 
application  of  the  commissioner  or  of  such  company  or  society, 
it  shall  after  a  like  hearing  appear  to  the  court  that  the  ground 
for  such  order  has  been  removed  and  that  such  company  or 
society  can  properly  and  safely  resume  possession  of  its  prop- 
erty and  the  conduct  of  its  business. 

3.  If,  on  a  like  application  and  order  to  show  cause,  and 
after  a  full  hearing,  the  court  shall  order  the  liquidation  of  the 
business  of  such  corporation,  such  liquidation  shall  be  made  by 
and  under  the  direction  of  the  commissioner,  who  may  deal 
with  the  property  and  business  of  such  company  or  society  in 
his  own  name  as  commissioner,  or  in  the  name  of  the  company 
or  society,  as  the  court  may  direct,  and  shall  be  vested  by 
operation  of  law  with  title  to  all  of  the  property,  contract,  and 
rights  of  action  of  such  company  or  society,  as  of  the  date  of 
the  order  so  directing  him  to  liquidate.  The  filing  or  recording 
of  such  order  shall  impart  the  same  notice  that  a  deed,  bill  of 
sale,  or  other  evidence  of  title  duly  filed  or  recorded  by  such 
company  ur  society  would  have  imparted. 


1970  DEPARTMENT  OF  INSURANCE.  182 

4.  Far  the  purpose  of  this  section,  the  commissioner  shall 
have  power  to  appoint,  under  his  hand  and  official  seal,  one  or 
more  special  deputies  as  his  agent  or  agents,  and  to  employ 
such  counsel,  clerks,  and  assistants  as  may  by  him  be  deemed 
necessary.  The  commissioner,  his  deputy,  examiner,  and  spe- 
cial deputies  shall  have  power  to  compel  the  production  of 
books,  papers,  and  documents  and  to  administer  oaths  and  ex- 
amine and  take  the  testimony  of  any  person  with  regard  to  the 
business  affairs  and  condition  of  such  company  or  society. 
The  compensation  of  such  special  deputies,  counsel,  clerks,  and 
assistants,  and  all  expenses  of  taking  possession  of  and  con 
ducting  the  business  of  liquidating  any  such  company  or  society 
shall  be  fixed  by  the  commissioner,  subject  to  the  approval  of 
the  court,  and  shall,  on  certificate  of  the  commissioner,  be  paid 
out  of  the  funds  or  assets  of  such  company  or  society. 

5.  For  the  purposes  of  this  section,  the  commissioner  shall 
have  power,  subject  to  the  approval  of  the  court,  to  make  and 
prescribe  such  rules  and  regulations  as  to  him  shall  seem  proper. 

6.  The  commissioner  shall  transmit  to  the  legislature,  in  his 
annual  report,  the  names  of  the  companies  or  societies  so  taken 
possession  of,  whether  the  same  have  resumed  business  or  have 
been  liquidated,  and  such  other  facts  as  shall  acquaint  the 
policyholders,  creditors,  stockholders,  and  the  public  with  his 
proceedings  under  this  section;  and  to  that  end,  the  special 
deputy  in  charge  of  any  such  company  or  society,  shall  file  an- 
nually with  the  commissioner,  a  report  of  the  affairs  of  such 
company  or  society. 

7.  The  provisions  of  this  section  shall  extend  to  the  pro- 
moters, organizers,  trustees,  or  other  persons  having  charge  of 
the  property  or  affairs  of  any  domestic  insurance  companv  or 
fraternal  or  mutual  benefit  society  proposed  or  attempted  to 
be  organized,  including  also  any  corporation  organized  or  pro- 
posed to  be  organized  to  hold  or  control  the  stock  or  securities 
of  any  such  insurance  company,  and  to  any  property  within 
the  jurisdiction  of  the  courts  of  this  state  belonging  to  any 
local  or  foreign  company,  society,  or  corporation,  whether  or- 
ganized or  proposed  to  be  organized. 

Section  1970in  is  referred  to  in  sec.  1970n. 

1970x1  (Ch.  152,  1911,  in  effect  May  13.  1911.) 

Insolvency,  commissioner  to  have  power  given  to  commis- 
sioner of  banking. 

Section  1970n.  As  an  alternative  and  in  addition  to  the 
provisions  of  section  1970m,  all  the  powers  and  authority  con- 
ferred upon  the  commissioner  of  banking,  by  section  2022  or 
any  amendment  thereto  as  to  banking  corporations,  are  hereby 


183  DEPARTMENT  OF  INSURANCE.  197  On 

conferred  upon  and  extended  to  the  commissioner  of  insurance 
as  to  all  insurance  companies  and  fraternal  or  mutual  benefit 
societies. 

1970p  (Ch.  83,  1911,  in  effect  May  6,  1911.) 

Orders,  notice,  service,  review;  circuit  court,  Dane  County, 
hearings,  exception. 

Section  1970p.  1.  Notice  of  the  making  of  any  order  by 
the  commissioner  of  insurance  may  be  given  by  sending  to  any 
company,  society,  or  person  affected  thereby,  a  copy  of  such 
order  by  prepaid  registered  mail,  the  service  of  which  notice 
shall  be  complete  upon  the  delivery  or  tender  of  the  same  to 
such  company,  society,  or  person  by  the  postal  authorities,  and 
may  be  proved  by  the  receipt  of  the  addressee  on  the  form  used 
by  the  postal  authorities. 

2.  Within  ten  days  after  receiving  from  the  commissioner  of 
insurance  written  notice  of  the  making  of  any  order  author- 
ized by  law,  and  not  thereafter,  the  company,  society,  or  per- 
son affected  thereby,  by  verified  petition  specifying  the  reasons 
therefor,  may  ask  for  a  rehearing  and  review  thereof  before  the 
commissioner,  which  shall  be  had  within  ten  days  unless  such 
company,  society,  or  person  shall  request  otherwise,  and  the 
final  order  shall  be  made  within  three  days  after  the  close  of 
such  hearing.  All  evidence  presented  on  such  hearing  shall  be 
carefully  preserved. 

3.  Any  such  final  order  may  be  reviewed  in  the  circuit  court 
for  Dane  county,  subject  to  removal  as  in  other  cases,  pro- 
vided : 

a.  The  application  for  such  review  stating  the  grourds  there- 
of shall  be  made  and  notice  given  to  the  commissioner  within 
ten  days  after  notice  of  such  final  order,  and  not  otherwise. 

b.  Such  application  shall  be  heard  upon  all  the.  evidence 
presented  before  the  commissioner  and  no  further  or  additional 
evidence  shall  be  presented  before  the  court.  But  the  applic- 
ant shall  be  entitled  to  a  further  hearing  or  further  hearings 
before  the  commissioner,  at  which  either  party  may  present 
additional  evidence  on  which  the  commissioner  may  make  such 
further  order  as  the  case  may  require. 

o.  That  no  review,  under  this  subsection,  shall  be  had  upon 
any  order  of  the  commissioner  granting  or  refusing  the  license 
or  authority  of  any  company  or  mutual  benefit  society  not  or- 
ganized under  the  laws  of  this  state,  to  transact  business  in 
this  state,  where  such  company  or  society  shall  not  on  the  date 
of  the  application  for  such  license  or  authority,  be  transacting 
business  in  this  state  under  a  license  or  authority  theretofore 
granted. 


1971  DEPARTMENT   OF   INSURANCE.  184 

1971  (1898;  ch.  192,  1899;  ch.  451,  1905.) 
Annual  report ;  forms ;  publication. 

Section  1971.  The  commissioner  of  insurance  shall  prepare 
and  furnish  to  each  insurance  corporation  organized  under  the 
laws  of  this  state  and  to  the  attorneys ,  of  corporations  incor- 
porated in  other  states  and  countries,  doing  any  business  of  in- 
surance in  this  state,  printed  forms  of  annual  and  other  state- 
ments as  required  by  law  to  be  made  by  such  corporations,  and 
may  make  such  changes  in  such  forms  as  shall  seem  best  adapted 
to  elicit  from  them  a  true  exhibit  of  their  condition  in  relation 
to  the  matters  required  by  law  to  be  reported  to  him;  and  all 
such  corporations  shall  make  such  statements  as  required  by 
said  commissioner;  and  he  may,  for  such  reasons  as  he  shall 
deem  sufficient,  extend  the  time  for  filing  such  annual  state- 
ments, but  not  exceeding  sixty  days.  He  shall  cause  the  in- 
formation contained  in  such  statements  to  be  arranged  in  tabu- 
lar form  and  publish  the  same  with  his  report.  He  shall  during 
the  first  week  of  the  months  of  January,  April,  July  and  Octo- 
ber of  each  year  hereafter  cause  to  be  published  in  the  official 
state  paper  and  in  one  other  daily  paper,  which,  in  his  judg- 
ment, will  give  information  to  the  greatest  number  by  one  in- 
sertion in  each  such  newspaper,  a  statement  over  his  signature, 
containing  the  names  of  such  insurance  corporations  as  have 
complied  with  all  the  laws  of  this  state,  relating  to  such  cor- 
porations and  are  duly  licensed  and  authorized  to  transact  busi- 
ness therein. 

The  total  annual  expense  for  such  publication  shall  not  ex- 
ceed the  sum  of  four  hundred  dollars. 

There  is  hereby  appropriated  for  such  purpose  out  of  any 
moneys  in  the  state  treasury  not  otherwise  appropriated  the 
sum  of  four  hundred  dollars  per  annum. 

Section  i971  is  referred  to  in  section  1978j. 

1972  (1898;  ch.  90,  1905;  ch.  296,  1909,  in  effect  June  7,  1909.) 
Fees;  filing  charter;  agents 'licenses. 

Section  1972.  1.  Except  as  otherwise  provided  by  law  there 
shall  be  paid  to  the  state  through  the  commissioner  of  insur- 
ance in  addition  to  the  fees  elsewhere  in  these  statutes  provided 
for,  by  every  insurance  corporation,  person  or  agent  to  whom 
this  chapter  applies,  the  following  fees : 

(a)  For  filing  the  first  declaration  or  statement,  with  certi- 
fied copy  of  charter,  twenty-five  dollars ; 

(b)  For  filing  the  annual  statement  of  any  insurance  cor- 
poration, twenty-five  dollars; 


185  DEPARTMENT  OP  INSURANCE.  1972 

(c)  For  each  certificate  of  authority  issued  *o  the  agent  of 
any  company  one  dollar.  A  separate  certificate  shall  be  re- 
quired for  each  company  represented  by  an  agent  and  for  each 
member  of  any  firm ; 

(d)  For  every  certified  copy  a  paper  filed  in  his  office,  ten 
cents  per  folio ;  • 

(e)  For  certifying  and  affixing  his  seal  to  any  such  copy  or 
any  other  paper,  fifty  cents. 

2.  In  case  two  or  more  corporations  shall  combine  to  effect 
insurance  under  a  joint  policy  or  policies,  each  and  every  such 
corporation  so  combining  shall  pay  the  fees  above  provided  the 
same  as  if  each  and  every  one  wrote  separate  policies. 

Section  1972  is  referred  to  in  1959'  (30),  1978J. 

See  section  1219. 

1972a 

Violation  of  law  by  companies;  notice;  revocation  of  li- 
cense; forfeitures.  Proceedings  if  law  violated;  ex- 
penses. 

Section  1972a.  The  commissioner  of  insurance  shall  bring 
notice  of  the  violation  of  any  of  the  provisions  of  this  chapter 
by  insurance  companies  to  the  notice  of  any  company  which 
shall  have  committed  the  same ;  and  in  case  of  persistent  viola- 
tion thereof  by  any  company  he  shall,  if  the  company  be  in- 
corporated under  the  laws  of  this  state,  report  the  same  to 
the  attorney-general ;  and  if  it  be  incorporated  under  the  laws 
of  any  other  state  or  country  he  shall  revoke  its  authority  to 
do  business  in  this  state ;  and  upon  satisfactory  evidence  to  him 
of  the  violation  of  any  of  such  provisions  by  any  agent  of  any 
such  corporation  he  shall  revoke  the  license  of  such  agent. 
Said  commissioner  shall  also  bring  or  cause  actions  to  be 
brought  to  recover  all  forfeitures  imposed  by  these  statutes 
for  a  violation  of  any  of  their  provisions  by  insurance  com- 
panies or  their  agents;  and  all  necessary  expenses  incurred 
by  him  hi  such  actions,  and  in  representing  this  state  at  the 
annual  meeting  of  the  national  convention  of  the  insurance 
commissioners  of  the  several  states  shall,  on  his  certificate 
that  the  expenses  incurred  were  actually  necessary,  be  audited 
by  the  secretary  of  state.  It  shall  be  the  duty  of  the  attorney- 
general  to  prosecute  in  the  name  of  the  state  or  to  compromise 
every  such  forfeiture;  and  his  necessary  expenses  incurred  in 
so  doing,  when  so  certified,  shall  be  audited  as  aforesaid.  All 
forfeitures  collected  in  such  actions  shall  be  paid  to  the  state 
treasurer  for  the  benefit  of  the  general  fund. 


1972b  DEPARTMENT  OF  INSURANCE.  186 

1972b  (1898;  ch.  233,  1901;  ch.  212,  1905.) 
Commissioner's  report;  contents. 

Section  1972b.  The  commissioner  of  insurance  shall  keep 
and  preserve  in  a  permanent  form  a  full  record  of  his  pro- 
ceedings, including  a  concise  statement  of  the  condition  of  each 
insurance  company  reported,  visited  or  examined  by  him;  and 
shall,  annually,  at  the  earliest  practicable  date  make  a  report 
to  the  governor  of  the  general  conduct  and  condition  of  all 
such  companies  doing  business  in  this  state,  arranged  in  tabu- 
lar form  or  in  abstracts,  in  classes,  according  to  the  different 
kinds  of  insurance,  which  report  shall  also  contain : 

1.  A  statement  of  all  insurance  companies  authorized  to  do 
business  in  this  state  during  the  year  ending  the  thirty-first 
day  of  December  next  preceding,  with  their  names,  locations, 
amounts  of  capital,  dates  of  incorporation  and  of  the  com- 
mencement of  business,  and  kinds  of  insurance  in  which  they 
are  engaged  respectively. 

2.  A  statement  of  such  companies  as  have  ceased  to  do  busi- 
ness in  this  state  during  such  year  and  the  reasons  for  the 
same ;  also  a  statement  of  those  admitted  during  the  year  and 
of  those  refused  admission,  and  the  reasons  therefor. 

3.  Any  amendments  to  the  statutes  relating  to  insurance 
which  in  his  judgment  may  be  desirable,  and  such  other  infor- 
mation and  comments  in  relation  to  insurance  and  the  public 
interest  therein  as  he  deems  fit. 

4.  The  names  and  compensation  of  the  persons  employed  by 
him,  the  whole  amount  of  the  expenses  of  his  department,  the 
amount  of  taxes  and  fees  paid  by  each  corporation  and  the 
amount  and  date  of  payment  of  the  same  to  the  state  treasurer. 
There  shall  be  printed  and  in  readiness  for  distribution,  two 
thousand  copies  of  the  fire  and  marine  report,  two  thousand 
five  hundred  copies  of  the  life,  casualty  and  surety  report  and 
two  thousand  five  hundred  copies  of  the  local  mutual  report 
for  the  use  of  the  governor,  legislature  and  department  of  in- 
surance. -^  ;  I    :  ;    I 

1972c 

Payments ;  monthly  report ;  examination  of  books. 
Section  1972c.  The  commissioner  of  insurance  shall  ma.ke 
daily  payments  to  the  state  treasurer  of  all  fees  and  taxes 
received  and  shall,  on  the  first  day  of  each  month,  report  in 
detail  the  receipts  of  his  department  during  the  preceding 
month  to  the  governor,  secretary  of  state  and  state  treasurer, 
together  with  the  dates  of  such  payments  to  the  treasurer;  and 
it  shall  be  the  duty  of  the  governor,  secretary  of  state  and 


187  DEPOSIT  WITH   STATE  TREASURY.  1972c 

state   treasurer   to    quarterly   examine   and   audit   the   books 
and  records  of  the  department  of  insurance. 

1973  :      '    ;    .-jil    I 
Deposit  with  state  treasurer;  certificate;  exchange;  with- 
drawal. 

Section  1973.  The  state  treasurer,  in  his  official  capacity, 
shall  take  and  hold  on  deposit  the  securities  of  any  life  insur- 
ance corporation  incorporated  under  the  laws  of  this  state 
which  are  deposited  by  it  for  the  purpose  of  securing  policy- 
holders and  complying  with  the  laws  of  any  other  state  in 
order  to  enable  such  corporation  to  transact  business  in  such 
state,  and  also  to  receive  and  hold  in  trust  for  the  policy- 
holders of  any  other  insurance  corporation  of  this  state  such 
bonds,  stocks  or  other  securities,  as  may  be  offered  by  such 
corporation;  and  upon  the  application  of  such  corporation  to 
i^ive  such  a  certificate  from  year  to  year  of  such  deposit  as 
may  be  required  by  the  laws  of  other  states  in  order  to  the 
transaction  of  the  business  of  insurance  therein;  every  cor- 
l^oration  depositing  such  securities  shall  have  the  right  to 
receive  the  income  thereof  and  to  exchange  the  same  from 
time  to  time,  according  to  the  laws  of  the  state  in  which  it 
may  be  doing  business,  and  to  withdraw  the  same  when  it  no 
longer  desires  to  maintain  such  deposit. 

1974  (1898;  ch.  167,  1905.) 
Non-payment  of  judgment. 

Section  1974.  No  insurance  corporation  or  mutual  benefit 
corporation,  society,  order  or  association  doing  any  kind  of 
insurance  in  this  state  against  which  a  final  judgment  on  ac- 
(^ount  of  its  liability  as  an  insurer  or  as  such  other  corporation 
shall  have  been  recovered  in  any  court  therein  shall,  after 
sixty  days  from  the  rendition  of  such  judgment  and  whilst 
the  same  remains  unpaid,  issue  any  new  policy  or  certificate 
of  insurance  in  this  state;  and  in  case  any  such  insurance  or 
other  corporation  or  its  officers  shall  violate  the  provisions  of 
this  section  it  shall  forfeit  one  thousand  dollars.  And  any 
agent  of  any  sueh  corporation  who  shall  knowingly  so  violate 
the  same  shall  forfeit  not  less  than  one  hundred  nor  more 
than  five  hundred  dollars;  provided,  that  if  an  appeal  is  taken 
said  sixty  days  shall  not  begin  to  run  until  after  said  judgment 
has  been  affirmed  and  the  decision  upon  the  appeal  remitted. 
And  in  case  any  order  or  judgment  appealed  from  shall  be  af- 
firmed in  any  action  or  judicial  proceeding,  in  which  any  surety 
corporation,  company  or  association  authorized  to  issue  bonds 


1974  AGENTS'  LICENSES.  188 

or  undertakings  in  any  such  action  or  proceeding  shall  have 
executed  or  issued  any  such  bond  or  undertaking  as  a  condi- 
tion of  a  stay  of  proceedings  upon  such  order  or  judgment  so 
affirmed,  or  to  guarantee  the  payment  or  performance  thereof, 
if  such  surety  company  shall  not,  within  thirty  days  after  no- 
tice of  the  filing  of  the  remittitur,  fully  perform  its  undertaking 
in  respect  thereto,  it  shall  forfeit  its  right  or  license  to  trans- 
act such  business  in  this  state  until  such  order  or  judgment 
shall  have  been  fully  paid,  performed  or  complied  with  in 
accordance  with  the  terms  and  conditions  of  such  undertaking. 

1975  :      ;'      I     I    _;.   ;,,  _; 

Conditions  as  to  actions  void. 

Section  1975.  No  such  corporation  as  is  mentioned  in  the 
preceding  section  and  no  underwriter  or  agent  shall  incorpor- 
ate in  any  contract,  mortgage,  note,  bond,  obligation,  policy  or 
certificate  of  insurance  any  condition  or  provision  prescribing 
in  what  court  any  action  may  be  brought  thereon  or  that  no 
action  or  suit  shall  be  brought  thereon,  or  brought  in  any  of 
the  courts  of  this  state,  and  all  and  every  such  condition  and 
provision,  if  so  incorporated,  shall  be  null  and  void;  and  any 
renewal  of  any  policy  or  certificate  of  insurance  containing  any 
such  provision  or  condition  shall  not  be  a  renewal  of  such  con- 
dition or  provision  therein,  but  shall  be  deemed  a  •  renewal 
thereof  without  such  condition  and  provision.  A  violation  of 
this  section  shall  be  cause  of  forfeiture  of  any  license  to  do  busi- 
ness in  the  state. 

1976  (1898;  ch.  e38,  1905;  ch.  501,  1907;  eh.  116,  1909;  ch.  290, 

1909,  effective  July  1,  1909.) 
Agents'  licenses;  certificate  of  authority. 

Section  197G.  1.  No  person,  officer,  or  broker,  agent  or  sub- 
agent  of  any  insurance  corporation  of  any  kind  required  to 
pay  any  tax  or  license  fee  to  the  state  shall  act  or  aid  in  any 
manner  in  transacting  the  business  of  or  with  such  corporation 
in  placing  risks  or  in  collecting  any  premiums  or  assessments 
or  effecting  insurance  therein,  without  first  procuring  from  the 
insurance  corporation  a  certificate  of  authority;  nor  shall  any 
such  person,  officer,  broker,  agent,  or  sub-agent,  after  such  cer- 
tificate shall  have  expired,  or  after  revocation  by  the  commis- 
sioner of  insurance  of  such  certificate  or  of  the  license  of  such 
corporation  and  until  a  new  certificate  or  license  shall  have 
been  issued  to  him,  do  or  perform  any  such  act  for  or  in  behaJf 
of  any  insurance  corporation. 

iSection  1976  is  referred  to  in  sees.  1919a,  1919m.   (1),  1955o  (2de). 


189  AGENTS'  LICENSES.  1976— (2) 

1976  (2)   (1898;  ch.  38,  1905;  ch.  501,  1907;  cli.  116,  1909,  ef- 
fective July  1,  1909.) 
Issue  by  company;  return  to  commissioner. 

2.  No  such  certificate  shall  be  issued  by  any  other  than  the 
officers  or  resident  agent  of  such  corporation  signing  the  poli- 
cies of  insurance  issued  by  it  or  a  person  duly  authorized  there- 
to in  writing  by  such  officers  or  resident  agent,  after  a  copy  of 
such  authority  has  been  filed  in  the  office  of  the  commissioner 
of  insurance ;  nor  unless  the  same  shall  be  in  such  form  as  pre- 
scribed by  the  commissioner  of  insurance  and  numbered  con- 
secutively as  issued  by  the  person  authorized  thereto,  and  a 
statement  or  statements  of  the  names  and  residences  of  all 
persons  to  whom  such  certificates  are  issued  on  any  day,  in  such 
form  as  prescribed  by  the  commissioner,  together  with  the  fees 
provided  for  certificates  to  agents  by  section  1972,  shall  be 
mailed  to  said  commissioner  on  the  day  such  certificates  are 
issued. 

Agents'  licenses,  existing  not  affected. 

3.  All  certificates  of  authority  heretofore  issued  under  this 
section  shall  remain  in  force  until  the  time  of  their  expiration 
or  revocation  as  heretofore  provided  by  law,  and  all  certificates 
hereafter  issued  shall  expire  annually  upon  the  expiration  of 
the  license  of  the  company  issuing  the  same,  unless  previously 
revoked,  pursuant  to  law. 

Penalty;  forfeiture. 

4.  Anv  person  violating  the  provisions  of  this  section  shall  be 
punished  by  a  fine  of  not  more  than  five  hundred  dollars  for 
each  offense.  Any  company  violating  subsection  2  of  this  sec- 
tion shall  pay  five  times  the  amount  of  fees  upon  each  license 
included  in  such  violation. 

1976  (6)   (Ch.  27.  1911,  in  effect  Apr.  29,  1911.) 
License,  division  of  commissions,  exceptions. 

5.  No  person  shall  he  required  to  hold  sneh  ceHificate  of  an- 
thorify  from  more  than  one  com.pany  for  the  p^irpose  of  aeting 
as  aqent  and  receiving  commissions  for  tran.9a<^ting  the  Mnd  or 
kinds  of  insurance  authorized  hy  snch  certificate  for  any  other 
company  in  co-operation  with  any  person  holding  such  certificate 
of  authority  for  such  other  company.  This  suhseciion  shall  not 
apnly  to  life  insuramce. 

6.  No  corporation  or  stock  compa/ny  shall  he  licensed  as  agent 
of  any  insurance  company  for  the  purpose  mentioned  in  siihl 
section  1. 


1977  ^  AGENTS.  190 

1977  (1898;  cli.  353,  1905.) 

Agents,  who  are;  exception. 

Section  1977.  Every  person  or  member  of  a  firm  or  cor- 
poration who  solicits  insurance  on  behalf .  of  any  insurance 
corporation  or  person  desiring  insurance  of  any  kind,  or  trans- 
mits an  application  for  a  policy  of  insurance,  other  than  for 
himself,  to  or  from  any  such  corporation,  or  who  makes  any 
contract  for  insurance,  or  collects  any  premium  for  insurance, 
or  in  any  manner  aids  or  assists  in  doing  either,  or  in  trans- 
acting any  business  of  like  nature  for  any  insurance  corpora- 
tion, or  advertises  to  do  any  such  thing,  shall  be  held  to  be  an 
agent  of  such  corporation  to  all  intents  and  purposes,  unless  it 
can  be  shown  that  he  receives  no  compensation  for  such  serv- 
ices. This  section  shall  not  apply  to  agents  of  licensed  fra- 
ternal beneficiary  societies,  or  mutual  fire  insurance  companies 
of  this  state  except  those  organized  under  sections  1896,  1897 
and  1898. 

1978 

Insurers  to  comply  with  law. 

Section  1978.  No  corporation,  association,  partnership  or 
individual  shall  do  any  business  of  insurance  of  any  kind,  or 
make  any  guaranty,  contract  or  pledge  for  the  payment  of 
annuities  or  endowments  or  money  to  the  families  or  repre- 
sentatives of  any  policy  or  certificate  holder,  or  the  like,  in 
this  state  or  with  any  resident  of  this  state  except  according 
to  the  conditions  and  restrictions  of  these  statutes.  And  the 
term  insurance  corporations  as  used  in  this  chapter  may  be 
taken  to  embrace  every  corporation,  association,  partnership 
or  individual  engaging  in  any  such  business. 

STATE  INSURANCE  FOR  PUBLIC  BUILDINGS. 

1978a  (Sec.  1,  ch.  68,  1903;  ch.  663,  1911,  in  effect  July  21, 
1911.) 
State  insurance  fund,  state  property,  exclusive. 

Section  1978a.  On  and  after  July  1st,  1903,  no  officer  or 
agent  of  this  state  and  no  person  or  persons  having  charge  of 
any  public  buildings  or  property  of  the  state  shall  pay  out  any 
public  moneys  or  funds  on  account  of  any  insurance  against 
loss  by  fire  or  tornado,  or  shall  in  any  manner  contract  for  or 
incur  any  indebtedness  against  the  state  on  account  of  any  such 
insurance  upon  any  of  the  public  buildings,  furniture,  fixtures 
or  property  of  any  kind  whatever  belonging  to  the  state  ex- 
cept in  the  manner  hereinafter  provided. 

Section  1978a  is  referred  to  in  sees.  1978d;  1978e,  1978f— 5. 


191  STATE  INSURANCE  FUND.  1978b 

1978b  (Sec.  2.  cli.  m.  1903;  ch.  6G3,  in  e^'cof  July  21.  IDU.) 
State  insurance  fund;  risks;  credits  to;  duties  n>f  commis- 
sion. 

Section  1978b  *  *  *  Upon  July  1st,  *  *  *  the  coniiuissioner 
of  insurance  of  thw  state  shall  provide  for  the  insurance  by  the 
state  of  all  state  property  for  an  amount  equal  to  ninety  i)er 
cent,  of  the  cash  value  of  such  property  in  the  followintij 
manner:  First,  he  shall  determine  the  insurable  value  of  each 
item  of  property  and  shall  fix  the  rate  of  insurance  which  in 
his  opinion  is  the  average  rate  charged  by  responsible  fire  and 
tornado  insurance  companies  doing  business  in  this  state  and 
issuing  insurance  policies  upon  property  of  similar  kind  and 
exposed  to  risk  of  fire  or  tornado  in  like  manner.  He  shall 
then  ascertain  the  amount  of  insurance  in  force  upon  all  state 
property  and  provide  for  such  additional  insurance  as  is  nec- 
essary to  cover  said  ninety  per  cent,  of  the  full  value  of  the 
property  in  the  following  manner :  He  shall  certify  to  the  state 
treasurer  the  amount  of  insurance  upon  such  property  to  be 
carried  by  the  state  and  order  the  state  treasurer  to  credit  to 
an  account  which  shall  be  kept  by  the  treasurer  and  known 
as  the  "state  insurance  fund"  an  amount  equal  to  sixty  per 
cent,  of  the  premium  as  fixed  by  the  commissioner  of  insurance, 
and  the  amount  so  credited  by  the  state  treasurer  to  the  "state 
insurance  fund"  shall  be  debited  by  the  state  treasurer  to  that 
account  which  shall  be  kept  upon  his  books  with  the  proper 
officer,  agent  or  board  of  trustees  or  regents  which  may  have 
such  public  buildings  and  property  in  its  charge,  and  the 
amount  so  debited  by  the  state  treasurer  to  said  officer,  agent 
or  board  shall  be  deducted  by  him  from  any  funds  which  may 
be  in  his  hands,  or  which  may  thereafter  come  into  his  hands 
and  payable  to  said  offiicer,  agent  or  board  of  trustees  or  re- 
gents for  the  care  and  maintenance  of  such  public  buildings 
or  property.     *     *     *. 

Section  1978b  is  referred  to  in  sees.  1978d,  1978e,  1978f — 5. 

1978c  (Ch.  113,  1909,  in  effect  May  13,  1909.) 

Loss;  commissioner  to  adjust;  transfer  of  funds. 

Section  1978c.  1.  In  case  any  buildings  or  property  of  the 
state  shall  be  damaged  by  fire  or  tornado,  the  commissioner  of 
insurance  shall  within  thirty  days  ascertain  and  fix  the  amount 
of  such  damage  and  forthwith  file  with  the  state  treasurer  and 
the  secretary  of  state  a  statement  of  the  same. 

2.  When  the  amount  of  loss  has  been  fixed  and  determined 
by  the  commissioner  of  insurance  and  certified  to  the  secretary 
of  state,  the  secretary  of  state  shall  issue  a  warrant  in  the 
amount  fixed  by  the  insurance  commissioner  as  a  transfer  of 


1978c  STATE   INSURANCE   FUND.  192 

the  amount  fixed  as  damages  from  the  "state  insurance  fund" 
and  credited  to  the  proper  fund  of  the  officer,  board  of  control, 
board  of  trustees,  or  other  agents  in  whose  control  said  build- 
ings or  property  belongs,  to  be  used  by  said  officer,  board,  or 
agent  for  the  rebuilding  or  restoring  of  the  property  damaged 
and  to  be  disbursed  by  the  state  treasurer  in  such  manner  as 
other  state  funds  for  the  use  of  said  officer,  board,  or  agent 
are  paid  out,  and  if  at  the  time  of  any  such  award  of  loss  or 
damage  by  the  commissioner  of  insurance,  there  shall  not  be 
in  the  ''state  insurance  fund"  an  amount  equal  to  such  award, 
the  secretary  of  state  shall,  notwithstanding  this  fact,  draw  his 
warrant  payable  from  the  general  fund,    and  the  state  treas- 
urer-shall promptly  pay  such  warrant  out  of  any  moneys  in 
his  hands  in  the  manner  above  j^rovided. 
Section  1978c  is  referred  to  in  1978d,  1978e,  1978f— 5. 

1978d  (Sec.  4,  ch.  68,  1903;  ch.  663,  1911,  ?.u  effect  July  21, 
1911.) 
Duplicate  copies  to  be  filed. 

Section  1978d.  A  duplicate  copy  of  all  reports  and  state- 
ments required  herein  of  the  commissioner  of  insurance  and  of 
each  officer,  board  or  agent  in  each  section  of  *  *  ^  sec- 
tions 1978a  to  1978e,  inclusive,  shall  be  filed  with  the  secretary 
of  state  by  each  such  officer,  board  or  agent. 


1978e  (Sec.  5,  ch.  68,  1903;  chs.  603,  663  and  664,  1911,  in  ef- 
fect July  8,  21  and  22,  1911.) 
Appropriation. 

Section  1978e.  There  is  hereby  appropriated  out  of  any 
moneys  in  the  state  treasury,  not  otherwise  appropriated,  a 
sum  sufficient  to  carry  out  the  *  *  *  provisions  of  sections 
1978a,  19781,  1978c,  1978d  and  1978f. 

Section  1978e  is  referred  to  in  1978d. 

See  section  1978f  following  section  1978f— 5. 

1978f— 5  (Chs.  603  and  664,  1911,4n  effect  July  8  and  22,  1911.) 
State  insurance  fund. 

*  *  *  Section  j'i^ZS — 5.  1.  No  coHmty  board,  officer  or  agent 
of  any  county,  having  charge  of  any  public  building  or  prop- 
erty of  any  county,  shall  contract  for  or  pay  out  any  money  or 
funds  for  insurance,  against  fire  or  any  other  risk  upon  prop- 
erty, on  and  after  the  first  day  of  July,  next  after  a  vote  of 
the  county  board  of  such  county  to  insure  under  this  section, 
except  as  may  be  certified  by  the  commissioner  of  insurance 
to  be  necessary. 

2.  On  or  before  June  10,  next  after  such  decision  by  the 
county  board,  the  county  clerk  of  such  county  shall  report  to 


193  LLOYDS'  MARINE  INSURANCE.  1978f— 5 

the  commissioner  of  insurance,  each  policy  of  insurance  which 
shall  then  he  in  force  upon  any  property  of  any  kind  heionging 
to  the  county,  whether  under  the  control  of  the  county  hoard 
cr  any  other  hoard,  officer  or  agent,  stating  the  property  cov- 
ered by  such  policy,  the  date  of  tlie  issue  and  expiration  there- 
of, the  amount  and  rate  of  insurance  and  premium  thereon. 

;i  Beginning  the  first  day  of  July,  next  after  such  decision 
by  the  county  board,  the  insurance  on  all  property  of  any 
county  shall  be  provided  for  by  an  adjustment  of  losses  made 
by  the  commissioner  of  insurance,  in  the  manner  provided  by 
sections  1978b  and  1978c,  for  the  insurance  of  property  of  the 
yl;ite,  except  that  the  premium  shall  be  certified  by  the  com- 
missioner to  the  state  treasurer,  and  by  the  state  treasurer  to 
the  county  treasurer  with  other  state  taxes,  and  be  paid  out  of 
tlie  county  treasury. 

4.  Provided,  that  policies  in  force  on  said  first  day  of  July 
shall  remain  in  force  until  terminated,  as  provided  in  such  pol- 
i(i(^s;  and  that  the  county  clerk  shall  give  notice  to  the  com- 
missioner of  each  such  termination,  and  the  state  insurance 
hereby  provided  for  shall  take  effect  from  such  termination. 

5.  The  amount  paid  on  account  of  any  loss  shall  be  disbursed 
by  the  county  treasurer  in  such  manner  as  other  county  funds 
for  the  rebuilding  or  replacing  of  any  building  or  other  prop- 
erty, on  account  of  which  such  loss  has  been  incurred,  subject  to 
tlie  direction  of  the  board,  officer  or  agent  of  the  county  having 
cliarge  of  such  building  or  other. property. 

6.  For  carrying  out  the  provisions  of  sections  1978a,  1978b, 
l!)78c,  and  *  *  *  1978f — 5  and  this  section,  the  commis- 
sioner, with  the  approval  of  the  governor,  may  employ  such 
ap^sistants  as  necessary,  and  fix  their  compensation,  which  com- 
pensation, together  with  the  expenses  of  such  assistants  and  of 
tlie  commissioner  and  his  employes,  shall  be  paid  out  of  the  state 
insurance  fund  on  the  certificate  of  the  commissioner,  audited 
l)y  the  secretary  of  state.  The  state  fire  marshal  shall  make  such 
inspection  and  report  upon  all  property  insured  under  said 
section  as  may  be  required  by  the  commissioner. 


LLOYDS'  MARINE  INSURANCE. 

t9f78f  (Ch.  249,  ]901.) 

Orgfanization ;  members;  risks. 

Section  1978f.  Any  number  of  persons  not  less  than  twenty- 
liNo,  a  majority  of  whom  shall  at  all  times  be  citizens  of  this 
state,  may  transact  the  business  of  marine  insurance,  and  in- 

13—1.  L. 


1978f  LLOYDS'  MARINE  INSURANCE.  194 

surance  of  marine  property  against  loss  or  damage  by  fire,  upon 

the  Lloyds'  principle,  under  such  name  as  they  may  adopt,  and 

upon  compliance  with  the  requirements  of  this  act. 

Section  1978f  is  referred  to  in  1978g,  1978k,  1978  1,  al978m. 
See  section  1978f — 5  preceding  section  1978f. 

1978g   (Ch.  249,  1901 -,  ch.  663,  1911,  in  effect  July  21,  1911.) 
Attorney  to  transact  business;  reserve  fund. 

Section  1978g.  For  the  convenient  transaction  of  business 
and  the  speedy  payment  of  losses  incurred  therein,  they  shall 
in  writing  appoint  an  attorney  or  attorneys  to  act  for  them 
in  the  transaction  of  their  said  business,  and  may  pay  in  and 
aocumulate  a  fund  for  the  payment  of  losses  and  the  expenses 
of  their  said  business ;  and  before  they  shall  transact  any  busi- 
ness of  insurance  in  this  state  there  shall  be  paid  to  the  said 
attorney  or  attorneys  so  appointed  a  sum  of  money  not  less 
than  five  hundred  dollars  by  each  of  the  persons  mentioned  in 
section  .  *  *  *  197 8 f  which  sum  shall  be  held  by  said  at- 
torney or  attorneys  and  shall  be  used  as  a  reserve  fund  for  the 
payment  of  losses  and  the  expenses  of  their  said  business. 

Section  1978g  is  referred  to  in  Sec.  1978h,  1978j,  1978  1,  1978m. 

1978h  (Ch.  249,  1901;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Office;  list  of  underwriters. 

Section  1978h.  They  shall  also  maintain  an  office  in  some 
city  within  this  state  where  their  said  attorney  or  attorneys 
shall  transact  the  said  business,  and  before  the  transaction  ol' 
any  business  in  this  state  they  shall  file  with  the  commissioner 
of  insurance  a  list  of  the  underwriters  joining  in  ,such  insurance^ 
which  list  shall  be  certified  to  by  the  said  attorney  or  attorneys 
provided  for  in  section  *  *  *  1978g  as  a  true,  full  and 
correct  list  thereof;  and  said  attorney  or  attorneys  so  appointed 
shall  also  from  time  to  time  certify  to  the  commissioner  of  in- 
surance any  change  or  substitution  in  such  list  of  underwriters. 

Section  1978h  is  referred  to  in  1978  1,  1978m. 

l»78i  (Ch.  249,  1901.) 

Attorney  for  service  of  process. 

Section  19781.  They  shall  also  appoint  by  writing  to  be  filed 
with  the  commissioner  of  insurance,  an  attorney  or  attorneys 
resident  in  this  state,  on  whom  all  process  or  papers  concerning 
or  growing  out  of  said  business  may  be  served ;  and  such  service 
on  such  attorney  or  attorneys  or  either  of  them,  shall  be  equiv- 
alent to  service  on  each  of  said  persons  so  transacting  and  effect- 
ing marine  insurance. 

Section  1978i  is  referred  to  m  1978  1,  1978m. 


195  LLOYDS'  MARINE  INSURANCE.  1978J 

1978J  (Ch.  249,  1901;  ch.  /S63,  1911,  in  effect  July  21,  1911.) 
License  fee;  amount;  payment;  examination. 

Section  1978j.  Jt  shall  l)e  tlie  duty  of  the  attorney  or  at- 
torneys appointed  under  the  provisions  of  section  *  *  *  1978g 
and  on  or  before  the  first  day  of  February  of  each  year  while 
engaged  in  said  business  in  this  state,  to  pay  to  the  commissioner 
of  insurance  as  a  license  fee  for  the  transaction  of  such  business 
in  this  state  for  the  ensuing  year  a  sum  equal  to  two  per  centum 
of  the  gross  amount  of  premiums  received  during  the  preceding 
calendar  year,  and  also  the  fees  provided  for  by  section  1971  of 
the  statutes  *  *  *  and  the  fees  provided  for  by  section 
1972  of  the  statutes  *  *  *  and  the  payment  of  said  two  per 
centum  and  such  fees  shall  be  in  lieu  of  all  taxes,  fees  or  charges 
against  said  persons  or  either  of  them,  or  their  said  attorney  or 
attorneys,  or  against  their  property  or  the  property  of  either 
of  them  for  the  transaction  of  said  business  during  the  year  for 
which  payment  is  made.  It  shall  also  be  the  duty  of  the  said 
attorney  or  attorneys  to  permit  the  commissioner  of  insurance, 
at  any  and  all  proper  and  convenient  times,  to  examine  the 
])ooks  of  said  attorney  or  attorneys,  showing  the  transaction  of 
their  said  business,  in  order  to  verify  the  amount  of  premiums 
paid  in  and  to  determine  the  amount  of  license  fee  to  be  paid,  as 
herein  provided;  and  the  said  commissioner  of  insurance  shall 
have  the  right,  and  the  said  attorney  or  attorneys  shall  permit 
him,  to  have  access  to  said  books  for  such  purpose  at  any  and  all 
reasonable  and  convenient  times. 

Section  1978j  is  referred  to  in  1978  1,  1978m. 

1978k  (Ch.  249,  1901;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Liability  of  underwriters. 

Section  1978k.  Each  person  who  shall  join  in  effecting  such 
insurance  mentioned  in  section  *  *  *  1978f  shall  be  sever- 
ally, but  not  jointly,  liable  upon  each  contract  of  insurance 
entered  into  by  said  persons  by  their  attorney  or  attorneys,  for 
his  proportionate  share  of  the  amount  of  indemnity  specified  as 
to  him  in  said  contract  of  insurance,  and  for  no  greater  sum  in 
any  events  and  he  shall  not  be  liable  otherwise  in  any  manner  or 
to  any  extent. 

Section  1978k  is  referred  to  in  1978  1,  1978m. 

19781  (Ch.  249,  1901;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Issue  of  license. 
Section  19781.  Upon  compliance  with  the  requirements  of 
*  *  *  sections  1978f  to  1978m,  inclusive,  the  insurance  com- 
missioner shall  issue  and  deliver  to  the  said  attorney  or  attor- 
neys appointed  under  section  *  *  *  1978g  a  license  in  the 
usual  form,  authorizing  the  said  persons  and  their  said  attor- 


19781  LIFE  FUND.  196 

ney  or  attorneys  to  transact  the  business  authorized  by  said 
*  *  *  section  until  the  first  day  of  February  next  follow- 
ing the  issuing  of  said  license. 

Section  1978  1  is  referred  to  in  1978m. 

1978m  (Ch.  249,  1901;  ch.  663,  1911,  in  effect  July  21,  1911.) 
Revocation  of  license. 

Section  1978m.  In  case  of  the  failure  on  the  part  of  such 
persons  *  *  *  mentioned  in  sections  1978 f  to  1978m,  in- 
clusive, their  attorney  or  attorneys,  to  fully  and  promptly  com- 
ply with  any  of  the  provisions  of  *  *  ^  said  sections,  or  the 
provisions  of  any  of  the  sections  of  the  statutes  *  «'  *  it 
shall  be  the  duty  of  the  commissioner  of  insurance  forthwith  to 
revoke  the  license  of  such  persons,  their  attorney  or  attorneys, 
and  take  proper  proceedings  to  wind  up  the  affairs  of  such  per- 
sons, their  attorney  or  attorneys. 

1989m  (Ch.  577,  1911,  in  effect  July  7,  1911.) 
State  life  fund,  purposes. 

Section  1989m.  1.  There  is  established  a  ''life.fund"  to  be 
administered  by  the  state  without  liability  on  the  part  of  the 
state,  beyond  the  amount  of  the  fund  for  the  purpose  of  grant- 
ing life  insurance  and  annuities  to  persons  who,  at  the  time  of 
the  granting  of  such  insurance  and  annuities,  are  within  the 
state  or  residents  thereof. 

(2)  Management,  state  treasurer,  commissioner  of  insur- 
ance, bond,  investments,  direction. 

2.  The  state  treasurer  shall  be  ex-officio  treasurer  and  cus- 
todian of  the  life  fund,  and  all  other  matters  in  relation  thereto 
shall  be  under  the  supervision  of  the  commissioner  of  insur- 
ance. Each  shall  give  such  bond  therefor  as  may  be  required 
and  approved  by  the  governor  and  secretary  of  state,  which 
shall'  be  filed  with  his  official  bond.  Sub.iect  to  the  approval 
and  general  direction  of  the  comrnissioner  of  insurance  as  to  the 
amount  to  be  invested,  and  the  kind  and  maturity  of  the  securi- 
ties, the  state  treasurer  shall  cause  the  moneys  in  the  life  fund 
to  be  invested  and  reinvested  in  the  securities  authorized  in  sec- 
tion 1951,  and  in  like  manner  may  sell  and  dispose  of  such  se- 
curities as  may  be  necessary  in  the  management  of  such  fund. 

(3)  (Chs.  577  and. 664,  1911,  in  effect  July  7  and  22,  1911.) 
Policy  powers,  premiums,  costs  of  insurance,  reserve. 

3.  Within  two  years  from  the  taking  effect  of  this  act,  the 
commissioner  of  insurance  shall  prepare  and  file  in  his  office 
forms  of  applications  and  policies,  schedules  of  premiums,  tables 


197  LIFE  FUND.  1989 

of  costs  of  insurance  and  reserve,  and  other  data  and  forms  for 
carrying  out  the  provisions  of     *     *     *     this  section. 

(4)  (Ch.  577,  1911,  in  effect  July  7,  1911.) 

Life  insurance,  premiums,  mortality  table,  interest,  expense 
charge,  extra  hazards. 

4.  The  premiums  for  life  insurance  in  the  life  fund  shall  be 
based  upon  the  American  experience  table  of  mortality  with 
additions  for  extra  hazards,  and  with  interest  at  three  per  cent 
per  annum,  to  which  shall  be  added  for  expenses  and  con- 
tingencies two  dollars  per  year  per  thousand  dollars  of  insur- 
ance, and  an  amount  distributed  equally  through  each  of  the 
possible  premium  payments,  the  present  value  of  which  shall  be 
equal  to  one-sixth  of  the  present  value  of  tlie  costs  of  insurance 
on  the  basis  aforesaid. 

(5)  Annuities,  mortality  table,  interest,  expense  charge. 

5.  The  premiums  for  annuities  shall  be  based  upon  the  British 
offices  annuity  tables,  1893,  with  interest  at  three  per  cent  per 
annum,  with  additions  for  expenses  and  contingencies,  distrib- 
uted equally  through  each  of  the  premium  payments,  the  pres- 
ent value  of  which  shall  be  one-sixth  of  the  net  single  premium 
for  such  annuity. 

(6)  Forms,  information,  distribution,  officers'  duties,  bond. 

6.  Upon  the  filing  of  such  forms,  the  commissioner  of  insur- 
ance shall  furnish  schedules  of  rates  and  copies  of  the  forms  of 
policies  to  every  state  factory  inspector,  to  the  clerk  and  treas- 
urer of  every  county,  town,  city  and  village  and  to  every  state 
bank,  whose  duty  it  shall  be  to  fill  out  and  transmit  applications 
for  insurance  and  annuities,  and  such  schedules  and  rates  shall 
also  be  furnished  to  any  other  person  applying  therefor. 

(7)  Application,  advance  premium,  medical  examination, 
approval,  fees,  policy,  contents,  execution. 

7.  The  application  shall  be  transmitted  to  the  commissioner 
of  insurance,  together  with  the  premium  for  three  months,  or 
multiples  thereof,  and  a  medical  examination  fee  of  two  dollars 
in  case  of  life  insurance.  The  commissioner  of  insurance  and 
the  state  board  of  health  shall  pass  upon  all  applications  for 
insurance,  and  no  life  insui'ance  shall  be  granted  without  a 
personal  medical  examination  to  be  made  at  the  direction  of 
the  state  board  of  health,  for  which  the  local  examiner  shall 
receive  the  medical  examination  fee.  If  the  application  be  re- 
jected, the  deposit  shall  be  returned,  excepting  the  fees  men- 


1^89  Life  fund.  i98 

tioned  in  subsection  13.  No  examination  shall  be  required  on 
application  for  annuities.  If  the  application  be  accepted,  the 
premium  shall  be  paid  into  the  life  fund  and  a  policy  shall  is- 
sue, to  be  signed  by  the  commissioner  of  insurance  and  the  state 
treasurer,  reciting  that  the  same  shall  be  payable  out  of  the 
life  fund  without  further  liability  on  the  part  of  the  state. 

(8)  Premium   payments,    receipt   forms,    officers'   duties, 
bond. 

8.  The  commissioner  of  insurance  shall  provide  the  insured 
with  blanks  to  be.  used  in  the  payment  of  premiums,  and  such 
premiums  may  be  paid  to  the  treasurer  of  any  city,  village, 
town  or  county,  or  to  any  state  depository,  who  shall  receipt  for 
and  remit  the  same  to  the  commissioner  of  insurance.  The 
bond  of  every  such  treasurer  and  state  depository  shall  include 
a  liability  for  all  premiums  and  other  money  received  for  the 
life  fund. 

(9)  Surplus,  distribution,  refund  to  policyholder. 

9.  A  surplus  shall  be  set  aside  from  the  net  profits  on  each 
policy  which  shall  be  made  up  on  the  following  basis:  Fifty  per 
cent  during  the  first  policy  year,  and  thereafter  five  per  cent 
less  for  each  succeeding  policy  year  until  the  ninth  year,  and 
thereafter  the  amount  so  set  apart  shall  bQ  ten  per  cent.  The 
interest  thereon  shall  also  be  set  apart  into  such  surplus.  Such 
surplus  fund  shall  be  maintained  and  held  to  meet  losses  from 
unexpected  or  great  mortality  or  depreciation  in  securities  or 
otherwise.  The  balance  of  the  net  profits  shall  be  distributed 
annually  among  the  holders  of  policies  and  shall  be  payable  on 
demand  or  be  applied  to  the  premium  next  payable. 

(10)  Loans,  premium  loan,  repayment. 

10.  Loans  may  be  made  on  a  policy  to  an  amount,  which  to- 
gether with  interest  at  six  per  cent  per  annum,  shall  not  exceed 
the  reserve  on  the  next  policy  anniversary  on  the  basis  of  the 
premiums  then  paid.  Any  premium  not  paid  when  due  shall 
be  charged  as  a  loan.  When  the  unpaid  loan  and  interest  equals 
the  reserve,  the  policy  shall  terminate,  but  before  that  time  the 
whole  or  any  part  of  a  loan  may  be  repaid. 

(11)  Cash  surrender,  notice. 

11.  The  reserve,  less  unpaid  loans  and  interest,  shall  be  pay- 
able in  cash  on  the  anniversary  of  the  policy  after  six  months' 
advance  notice  to  the  commissioner  in  writing  and  the  surrender 
of  the  policy. 


199  LIFE  FUND.  iJ89 

(12)  Losses,  adjustment,  board,  audit,  payment. 

12.  The  losses  and  other  payments  shall  be  audited  by  the 
secretary  of  state  upon  the  adjustment,  order  and  certificate  of 
the  state  treasurer,  attorney-general  and  commissioner  of  in- 
surance, acting  as  a  board,  and  be  paid  by  the  treasurer  out  of 
the  life  fund,  and  annuities  shall  be  paid  in  like  manner. " 

(13)  Expenses,  credit,  payment,  medical  examiner's  fee, 
application  fee,  agent. 

13.  (a)  There  shall  be  audited  by  the  secretary  of  state,  upon 
the  certificate  of  the  aforesaid  board,  and  paid  by  the  state 
treasurer  out  of  the  expense  element  of  the  life  fund  the  com- 
pensation of  clerks  and  assistants  employed  by  the  commis- 
sioner to  administer  the  life  fund,  a  fee  of  two  dollars  to  the 
medical  examiner  for  each  medical  examination,  and  the  actual 
expense  upon  the  adjustment  of  any  loss  or  the  defense  or  pros- 
ecution of  any  action.  The  compensation  certified  by  such 
board  due  employes  of  the  state  paid  a  fixed  salary  shall,  in- 
stead of  being  paid  to  such  employes,  be  transferred  into  the 
general  fund  of  the  state. 

(b)  There  shall  be  retained  by  any  person  insured  paying 
direct,  or  by  any  other  person  transmitting  any  application  for 
insurance  or  any  annuity,  or  collecting  and  transmitting  any 
premium,  a  fee  of  twenty-five  cents  for  each  application  and  a 
fee  of  one  per  cent  on  the  amount  of  the  premium.  Any  such 
other  person  transmitting  an  application  or  premium  shall  be 
held  to  the  agent  of  the  insured. 

(14)  Policies,  age  limits,  amounts,  approval,  minimum  risks, 
single  risks. 

14.  Policies  of  life  insurance  may  be  issued  to  persons  be- 
tween the  ages  of  twenty  and  fifty  years,  in  amounts  of  five 
hundred  dollars  or  multiples  thereof,  upon  being  approved  by 
the  commissioner  of  insurance  and  the  state  board  of  health ;  but 
no  policy  or  policies  shall  be  issued  contrary  to  section  1898, 
nor  upon  the  same  risk  in  excess  of  one  thousand  dollars  until 
the  number  of  insurants  shall  exceed  one  thousand,  nor  in  ex- 
cess of  two  thousand  dollars  until  the  number  of  insurants 
shall  exceed  three  thousand,  nor  at  any  time  in  excess  of  three 
thousand  dollars. 

(15)  Annuities,  age  limits,  payments,  amounts,  age  begun. 

15.  Annuities  may  be  granted  to  persons  between  the  ages  of 
twenty  and  fifty  years,  to  begin  at  the  age  of  sixty  years  or 
more  in  sums  of  one  hundred  dollars  or  multiples  thereof,  not 
exceeding  three  hundred  dollars  upon  the  same  risk. 


1989  BENEFICIARIES.  200 

(16)  Combination  policies. 

16.  Life  insurance  and  an  annuity  or  annuities  may  be  co] 
bined  and  may  be  granted  in  the  same  policy. 

(17)  Accounts,  audit,  valuations,  reports,  other  laws. 

17.  The  accounts  of  the  life  fund  shall  be  kept  by  the  com-j 
missioner  of  insurance  and  shall  be  audited  in  the  same  mannei 
as  the  accounts  of  state  officers.  Valuations  and  reports  shair 
De  made  annually,  conforming  to  the  reports  required  of  lifei 
insurance  companies  by  the  laws  of  this  state,  but,  except  as- 
specifically  provided,  the  other  provisions  of  the  laws  relating 
to  insurance  shall  not  apply  to  the  life  fund. 

(18)  Rules,  commissioner's  duty. 

18.  The  commissioner  of  insurance  shall  make  such  reason- 
able rules  and  regulations  for  the  granting  of  life  insurance  and 
annuities,  as  shall  be  necessary  to  carry  out  the  provisions  of 
this  act. 

2347 

Insurance  by  married  woman  of  husband,  son,  or  other  per- 
son; rights  of  creditors. 
Section  2347.  Any  married  woman  may,  in  her  own  name 
or  in  the  name  of  a  third  person  as  her  trustee,  with  his  assent 
cause  to  be  insured  for  her  sole  use  the  life  of  her  husband,  son 
or  other  person  for  any  definite  period  or  for  the  natural  life  of 
such  person;  and  any  person,  whether  her  husband  or  not,  ef- 
fecting any  insurance  on  his  own  life  or  on  the  life  of  another 
may  cause  the  same  to  be  made  payable  or  assign  the  policy  to  a 
married  woman  or  to  any  person  in  trust  for  her  or  her  benefit, 
and  every  such  policy,  when  expressed  to  be  for  the  benefit  of 
or  assigned  or  made  payable  to  any  married  woman  or  any  such 
trustee,  shall  be  the  sole  and  separate  property  of  such  married 
woman  and  shall  insure  to  her  separate  use  and  benefit  and 
that  of  her  children,  and  in  case  of  her  surviving  the  period  or 
term  of  such  policy  the  amount  of  the  insurance  shall  be  pay- 
able to  her  or  her  trustee  for  her  own  use  and  benefit,  free 
from  the  control,  disposition  or  claims  of  her  husband  and  of 
the  person  effecting  or  assigning  such  insurance  and  from  the 
claims  of  their  respective  representatives  and  creditors.  But  if 
the  annual  premium  on  any  such  policy  shall  exceed  the  sum  of 
one  hundred  and  fifty  dollars  and  is  paid  by  any  person  with  in- 
tent to  defraud  his  creditors  an  amount  equal  to  the  premiums 
so  paid  in  excess  of  said  sum,  with  interest  thereon,  shall  insure 
to  the  benefit  of  such  creditors,  subject,  however,  to  the  statute 


201  ACTIONS.  2347 

of  limitations.  The  amount  of  any  such  insurance  may  be  made 
payable  in  case  of  the  death  of  such  married  woman  before  the 
period  at  which  it  comes  due  to  her  children  or  to  their  guardian 
for  their  use,  if  under  age,  or  to  any  other  person  as  shall  be 
provided  in  the  policy.  In  such  case  the  receipt  of  such  mar- 
ried woman  or  of  such  children,  or  of  their  guardian  if  minors, 
shall  discharge  the  insurance  corporation  from  all  further  lia- 
bility therefor.  The  provisions  of  this  section  shall  apply  to  all 
insurance  on  lives  effected  before  the  passage  of  these  statutes. 
Section  2347  is  referred  to  in  section  2982  (19). 

2347b  (Ch.  15,  1903.) 

Married  woman  may  assign  policy;  consent  of  person  ef- 
fecting insm-ance. 

Section  2347b.  Any  married  woman  may,  with  the  written 
consent  of  the  person  effecting  the  insurance,  assign,  encumber 
or  dispose  of  any  right,  title  or  interest  she  may  have  in,  to  or 
under  any  policy  of  life  insurance,  whether  on  the  life  of  her- 
self or  of  her  husband,  or  of  any  other  person,  and  whether 
such  policy  be  expressed  to  be  for  the  benefit  of  or  assigned  or 
made  payable  to  such  married  woman,  or  any  trustee  for  her,  in 
the  same  manner  and  with  like  effect  as  if  she  were  unmarried. 

The  provisions  of  this  act  shall  apply  to  all  insurance  on  lives, 
whether  effected  before  or  after  the  passage  of  this  act,  but 
shall  not  apply  to  assignments  thereof  heretofore  made. 


ACTIONS  AGAINST  INSURANCE  COMPANIES. 

2609a 

Joinder  as  defendants. 
Section  2609a.  In  actions  upon  a  policy  or  policies  insuring 
property  against  loss  or  damage  by  fire,  lightning,  hail,  cyclone 
or  other  casualty,  the  plaintiff  may  join  as  parties  defendant  any 
or  all  the  insurance  companies  liable  for  the  loss  or  any  part 
thereof,  and  all  the  issues  shall  be  tried  at  the  same  time  and  by 
the  same  jury  or  by  the  court,  if  the  action  is  triable  thereby, 
and  the  verdict  or  finding  shall  fix  the  amount  for  which  each 
defendant  is  liable ;  or  the  court  may,  in  its  discretion,  direct  the 
jury  to  return  successive  verdicts,  or  make  separate  findings,  so 
that  all  issues  may  be  determined  at  the  same  trial.  If  the  trial 
is  by  a  jury  the  court  may  instruct  the  jury  upon  one  or  more 
of  the  issues,  and,  after  verdict  thereon,  instruct  upon  other 
issues  until  they  are  all  disposed  of.  If  the  issues  are  found  in 
favor  of  the  plaintiff  and  he  is  entitled  to  judgment  on  the  ver- 


2609a  ACTIONS.  202     i 

diet  or  findings  a  separate  judgment  shall  be  rendered  against 
each  defendant  for  the  sum  for  which  it  is  found  to  be  liable, 
together  with  the  proportion  of  the  costs  for  which  it  is  liable, 
which  proportion  shall  bear  the  same  ratio  to  the  whole  amount 
of  the  costs  as  the  amount  of  its  liability  bears  to  the  total  sum 
recovered  by  the  plaintiff  from  all  the  defendants,  and  in  addi- 
tion to  such  costs  its  proportion  of  the  necessary  disbursements 
made  by  the  plaintiff,  calculated  on  the  same  basis. 

2637  (9)  (10)  (11)  (1898;  ch.  190,  1903.) 

Process ;  service  on  insurance  corporations. 

Section  2637.  Actions  against  corporations  shall  be  com- 
menced in  the  same  manner  as  personal  actions  against  natural 
persons.  The  summons  and  the  accompanying  complaint  or  no- 
tice aforesaid  shall  be  served,  and  such  service  held  of  the  same 
effect  as  personal  service  on  a  natural  person,  by  delivering  a 
copy  thereof  as  follows : 

9.  If  against  any  insurance  corporation  not  organized  under 
the  laws  of  this  state,  to  the  agent  or  attorney  thereof  having 
authority  therefor  by  appointment  under  the  provisions  of  sec- 
tion 1915,  1953,  or  1966 — 32,  or  to  any  agent  of  either  such  cor- 
poration who  shall  solicit  insurance  on  its  behalf  or  on  behalf 
of  any  property  owner  or  person  desiring  insurance,  or  who 
transmits  an  application  for  or  a  policy  of  insurance  to  or  from 
any  such  corporation,  makes  any  contract  for  insurance,  col- 
lects or  receives  any  premium  therefor,  or  adjusts,  settles  or 
pays  a  loss  for  such  corporation  or  aids  or  assists  in  doing 
either  or  in  transacting  any  business  for  the  same,  or  on  any 
person  who  advertises  to  do  any  such  thing. 

See  section  1958.  < 

2637  (1898;  ch.  190,  1903;  ch.  451,  1909,  in  effect  July  1,  1909.) 
Service  on  corporations. 

10.  If  against  any  other  corporation  organized  under  the  laws 
of  this  state,  to  the  president,  or  other  such  chief  officer,  vice- 
president,  secretary,  cashier,  treasurer,  director,  or  managing 
agent. 

Provided,  however,  that  whenever  any  such  corporation  does 
not  have  any  officer  or  agent  within  this  .state  upon  whom  legal 
service  of  process  can  be  made,  of  which  the  return  of  the  sheriff 
shall  be  prima  facie  evidence,  service  of  the  summons  and  ac- 
companying complaint  may  be  made  by  depositing  duplicate 
copies  thereof  in  the  office  of  the  secretary  of  state,  one  of  ^hich 
copies  shall  be  filed  in  the  office  of  said  secretary  of  stat*,  and 
the  other  by  him  immediately  mailed,  postage  prepaid,   ad- 


203  ACTIONS.  2637 

dressed  to  said  company  at  its  office  designated  in  its  articles  of 
incorporation  on  file  in  the  office  of  the  said  secretary  of  state, 
and  such  service  shall  be  deemed  and  treated  as  personal  service 
on  such  corporation. 

11.  If  against  any  corporation  or  association  having  an  aid 
or  benefit  department  under  its  control  or  in  connection  there- 
with, not  organized  under  the  laws  of  this  state  and  doing  busi- 
ness herein,  either  as  such  corporation  or  association  or  by 
means  or  in  the  form  of  a  local  or  subordinate  aid  or  benefit 
association,  or  of  subordinate  branches,  lodges,  or  divisions,  and 
which  has  failed  to  appoint  an  agent  or  attorney  in  compliance 
with  section  1953,  to  any  officer  of  any  such  local  or  subordinate 
aid  or  benefit  association,  branch,  lodge  or  division. 

2982  (19) 

Insurance  moneys  exempt  from  execution;  minor's  life; 
married  woman  beneficiary. 
Section  2982.  Subdivision  19.  All  moneys  arising  on  any 
policy  of  insurance  on  the  life  of  a  minor,  payable  to  his  father 
or  mother,  or  both,  shall  be  exempt  against  the  creditors  of  such 
father  or  mother,  but  not  against  the  creditors  of  such  minor; 
all  moneys  arising  under  any  policy  of  insurance  payable  to 
a  married  woman  or  to  any  person  in  trust  for  her  or  her  ben- 
efit shall  be  exempt  from  the  claims  of  her  husband  and  of  the 
person  effecting  or  assigning  such  insurance  for  her  benefit  and 
from  the  ciaims  of  their  respective  representatives  and  credit- 
ors, subject  to  the  provisions  of  section  2347,  and  all  moneys  or 
other  benefit,  charity,  relief  or  aid  to  be  paid,  provided  or  ren- 
dered by  any  mutual  beneficiary  or  fraternal  corporation,  so- 
ciety, order  or  association  providing  insurance  on  the  assess- 
ment plan  and  authorized  to  do  business  in  this  state,  shall  be 
exempt  against  the  creditors  of  a  member  thereof  or  his  ben- 
eficiary or  beneficiaries  to  the  amount  of  five  thousand  dollars 
in  all  cases  where  the  insured  pays  the  premiums  or  assess- 
ments or  any  part  thereof;  but  if  some  other  person  pays  such 
premiums  or  assessments  the  insurance  shall  be  absolutely  ex- 
empt. 

3218 

Injunction  on  insolvency. 

Section  3218.  Whenever  any  corporation  having  banking 
powers,  or  having  power  to  make  loans  or  pledges  or  deposits, 
or  authorized  by  law  to  make  insurance  shall  become  insolvent 
or  unable  to  pay  its  debts  or  shall  neglect  or  refuse  to  pay  its 
notes  or  evidence  of  debts  on  demand  or  shall  have  violated 


3218  ACTIONS.  204| 

any  of  the  provisions  of  its  act  of  incorporation  or  of  any  other 
law  binding  on  such  corporation,  any  court  having  jurisdiction 
may,  by  injunction,  restrain  such  corporation  and  its  officers 
from  exercising  any  of  its  corporate  rights,  privileges  or  fran- 
chises, and  from  collecting  or  receiving  any  debts  or  demands, 
and  from  paying  out  or  in  any  way  transferring  or  delivering 
to  any  person  any  of  the  moneys,  property  or  effects  of  such 
corporation  until  such  court  shall  otherwise  order. 

3219 

Injunction;  receiver,  powers  of. 

Section  3219.  Such  injunction  may  be  issued  upon  the  com- 
mencement of  an  action  for  the  purpose  of  closing  up  the  busi- 
ness of  such  corporation  by  the  attorney  general  in  the  name 
of  the  state  or  by  any. creditor  or  stockholder  of  such  corpora- 
tion, or  at  any  time  thereafter  upon  proof  of  the  facts  required 
to  authorize  the  issuing  of  the  same.  The  court  may  in  any 
stage  of  such  action  appoint  one  or  more  receivers  to  take 
charge  of  the  property  and  effects  of  such  corporation  and  to 
collect,  sue  for  and  recover  the  debts  and  demands  that  may  be 
due  and  the  property  that  may  belong  to  such  corporation,  who 
shall  in  all  respects  possess  the  powers  and  authority  conferred 
and  be  subject  to  all  the  obligations  imposed  upon  receivers  in 
other  cases,  and  in  all  respects  be  subject  to  the  control  of  the 
court. 

3299  •    . 

Forfeiture,  action  to  recover ;  complaint ;  judgment. 

Section  3299.  When  a  forfeiture  is  imposed,  not  exceeding 
a  specified  sum  or  when  it  is  not  less  than  one  sum  or  more  than 
another,  the  action  may  be  brought  for  the  highest  sum  speci- 
fied ;  and  judgment  may  be  rendered  for  such  sum  as  the  court 
or  jury  shall  assess  or  determine  to  be  proportionate  to  the 
offense. 

3300 

Forfeiture,  action  by  district  attorney  or  attorney  general; 
where  paid. 

Section  3300.  All  forfeitures  imposed  by  chapter  89  may  be 
sued  for  by  the  district  attorney  of  the  county  in  which  the  in- 
surance company  or  any  of  its  agents  mentioned  in  said  chapter 
may  be  located  or  reside,  or  by  the  attorney  general.  If  the 
action  be  brought  by  the  district  attorney  one-half  of  the  for- 
feiture, when  recovered,  shall  be  paid  into  the  county  treasury 
of  his  county  and  the  other  half  to  the  informer  of  such  viola- 


205  FUTURE  ESTATES.  3300 

tion  who  sues  jointly  with  the  state  therefor,  and  otherwise  the 
whole  shall  be  paid  into  such  county  treasury.  If  the  action 
is  brought  by  the  attorney  general  the  sum  recovered  shall  be 
paid  into  the  state  treasury. 

Section  3577  is  referred  to  in  section  1946k. 

3871a  (Ch.  38,  1909,  in  effect  Apr.  14,  1909.) 

Future  estates;  mortality  table;  interest  rate;  judge  to 
have  copy  of  table. 

Section  3871a.  The  present  value  of  every  estate,  annuity, 
or  interest  of  beneficiaries  for  all  purposes  in  every  estate  and  in 
all  courts,  shall  be  computed  in  accordance  with  the  American 
experience  table  of  mortality,  and  interest  at  the  rate  of  five 
per  cent  per  annum.  The  commissioner  of  insurance  shall  com- 
pute the  present  value  of  the  estates  or  interests  of  the  several 
beneficiaries  when  the  necessary  statement  of  facts  is  submitted 
to  him  upon  request  or  order  of  any  court  or  judge  having 
jurisdiction.  The  said  statement  of  facts  shall  be  submitted  to 
said  commissioner  of  insurance  in  such  form  as  he  may  pre- 
scribe. Provided,  however,  that  when  it  is  impracticable  to 
use  the  American  experience  table  of  mortality,  the  commis- 
sioner of  insurance  may  use  the  Northampton  table.  In  all 
cases  the  sum  of  the  present  value  of  the  several  parts,  estates, 
or  interests  of  the  several  beneficiaries  shall  equal  the  net  value 
of  the  entire  estates. 

The  commissioner  of  insurance  shall  cause  to  be  printed  au- 
thorized annuity  tables  based  on  the  American  experience  table 
of  mortality,  and  five  per  cent  interest,  together  with  instruc- 
tions for  their  use  in  accordance  with  the  foregoing  provisions 
and  shall  furnish  copies  thereof  to  any  judge  makiupf  aoplica- 
tion  therefor. 

4182 

Evidence,  certificate  of  assessment. 

Section  4182.  Whenever  an  assessment  is  made  on  any  pre- 
mium note  given  to  any  mutual  insurance  company  for  any 
hazard  taken  by  said  company  or  as  a  consideration  for  any 
policy  issued  or  to  be  issued  by  said  company,  or  whenever  any 
assessment  is  made  by  the  directors  or  other  proper  officers  of 
any  such  company  for  money  due  it  from  any  member  thereof, 
and  action  is  brought  to  recover  such  assessment,  the  certificate 
of  the  secretary  of  said  company,  specifying  such  assessment, 
the  amount  due  said  company  by  means  thereof  and  that  no- 
tice thereof  was  given  the  person  liable  therefor,  shall  be  re- 
ceived as  presumptive  evidence  of  the  facts  so  certified. 


203  ACTIONS.  2637 


4182a 

Evidence,  verified  copies  of  book  entries. 

Section  4182a.  Whenever  any  evidence  sJiali  oe  required 
from  tlie  books  of  any  life  or  mutual  benelit  insuraace  corpora- 
tion or  association  engaged  m  domg  business  on  the  level  pre- 
mium or  assessment  plan,  at  the  time  of  the  trial  of  the  action 
or  proceeding  in  which  such  evidence  is  needed,  verilied  copies 
of  the  entires  in  such  books,  together  with  statements  showing 
the  number  of  members  insured  in  or  belonging  to  such  cor- 
poration or  association,  and  the  number  of  members  in  each 
class  or  grade' thereof  and  the  aggregate  amount  which  would 
be  due  from  thein  upon  a  single  assessment,  when  made  by  the 
secretary  or  other  officer  thereof  having  the  custody  of  such 
books,  under  oath  or  affidavit,  stating  that  such  copy  or  copies 
are  true  and  are  taken  from  the  regular  books  of  the  corpora 
tion  or  association  used  and  kept  for  the  transaction  of  it« 
.business,  and  that  such  books  are  now  in  his  custody  or  under 
his  control  shall  be  received  in  all  legal  proceedings  as  prima 
facie  evidence  of  such  entries  or  statements.  No  officer  of  any 
such  corporation  or  association  shall  be  compelled,  unless  by 
special  order  of  the  court  or  officer  before  whom  the  action  or 
proceeding  in  which  such  evidence  is  required,  to  produce  any 
books  or  records  thereof  before  the  same ;  provided,  the  verified 
entries  and  statements  herein  required  shall  be  served  upon  the 
attorney  of  the  party  who  requires  them  at  least  six  days  be- 
fore the  term  of  the  court  or  time  set  for  the  trial  or  hearing 
of  such  action  or  proceeding,  and  that  such  books  and  records 
shall  be  subject  to  the  inspection  of  any  interested  party  or  his 
attorney  to  the  extent  prescribed  by  all  orders  made  by  such 
court  or  officer  on  proper  application  therefor.  Any  person 
who  shall  wilfully  and  corruptly  make  a  false  copy  of  any 
entry  or  statement  herein  provided  for  or  give  false  testiniony 
concerning  the  same  shall  be  deemed  guilty  of  perjury. 

4183  I 

Inspection  of  books  and  writing;  order  for. 

Section  4183.  The  court  before  which  an  action  is  pending, 
or  a  judge  thereof,  may,  in  discretion  and  upon  due  notice  or- 
der either  party  to  give  to  the  other  within  a  specified  time,  an 
inspection,  a  copy  or  permission  to  take  a  copy  of  any  books, 
papers  and  documents  in  his  possession  or  under  his  control 
containing  evidence  relating  to  the  merits  of  the  action  or  of 
the  defense  therein.  If  compliance  with  the  order  be  refused 
the  court,  on  motion,  may  exclude  the  paper  from  being  given 
in  evidence  or  punish  the  party  refusing,  or  both. 


207  EVIDENCE.  4202m 

4202m  (Ch.  288,  1909,  in  effect  June  5,  1909.) 

Insurance,  application  lor;  warranty;  eftect  of. 
Section  4202m.  1.  Iso  oral  or  written  statement,  representa- 
tion, or  warranty  made  by  the  insured  or  in  his  behalf  in  the 
negotiation  of  a  contract  of  insurance  shall  be  deemed  material 
or  defeat  or  avoid  the  policy,  or  prevent  its  attaching  unless 
such  statement,  representation,  or  warranty  was  false  and  made 
with  actual  intent  to  deceive  or  unless  the  matter  misrepre- 
sented or  made  a  warranty,  increased  the  risk  or  contributed  to 
the  loss. 


Insurance  policy;  warranty;  effect  of. 
2.  No  warranty  incorporated  in  a  contract  of  insurance  relat- 
ing to  any  fact  prior  to  a  loss  shall  defeat  or  avoid  such  policy 
unless  the  breach  of  such  warranty  increased  the  risk  at  the 
time  of  the  loss,  or  contributed  to  the  loss,  or  unless  such  breach 
existed  at  the  time  of  the  loss. 


4202s  (Ch.  507,  1911,  in  eft^ect  July  3,  1911.) 
Representations,  physician's  certificate. 
Section  4202s.  In  any  case  where  the  medical  examiner,  or 
physician  acting  as  such,  of  any  life  or  disability  insurance 
company  or  association  doing  business  in  this  state,  shall  issue 
a  certificate  of  health  or  declare  the  applicant  a  fit  subject  for 
insurance,  or  so  report  to  the  company  or  association  or  its 
agent  under  the  rules  and  regulations  of  such  company  or  as- 
sociation, it  shall  thereby  be  estopped  from  setting  up  in  de- 
fense of  an  action  on  such  policy  or  certificate  that  the  insured 
was  not  in  the  condition  of  health  required  by  the  policy  at 
the  time  of  the  issue  or  delivery  thereof,  unless  the  same  was 
procured  by  or  through  the  fraud  or  deceit  of  the  insured. 


PENAL  PROVISIONS. 

4405 

Fraud  on  fire  company ;  absconding  insurer. 

Section  4405.  Any  person  who  shall  wilfully  bum  any  build- 
ing or  any  goods,  wares,  merchandise  or  other  chatties,  which 
shall  be  at  the  time  insured  against  loss  or  damage  by  fire,  with 
intent  to  injure  the  insurer,  whether  such  person  be  the  owner  of 
the  property  or  not,  shall  be  punished  by  imprisonment  in  the 
state  prison  not  more  than  ten  nor  less  than  three  years. 


4438e  PENAL  PROVISIONS.  208 

4438e 

Fraud  on  life  company;  absconding  insurer. 

Section  4438e.  Any  person  who  shall  effect  a  policy  or 
certificate  of  insurance  or  procure  either  to  be  effected  on  his 
life,  witli  the  intent  of  absconding  or  concealing  himself  for  the 
purpose  of  procuring  for  himself  or  any  other  person  the  whole 
or  any  part  of  the  money  payable  pursuant  to  such  policy  or 
certificate ;  or  any  person  having  a  policy  or  certificate  of  insur- 
ance upon  his  life  who  shall  abscond  or  conceal  himself  with  the 
intent  to  procure  for  himself  or  any  other  person  the  money  so 
payable,  in  whole  or  in  part ;  or  any  person  who  shall  knowingly 
aid,  assist  or  abet  another  whose  life  is  insured,  in  absconding  or 
concealing  himself  for  the  purpose  of  procuring  for  himself  or 
any  other  person  any  insurance  moneys,  or  any  person  who 
shall  knowingly  aid,  assist  or  abet  the  assured  named  in  any 
such  policy  or  certificate,  who  has  absconded  or  concealed  him- 
self for  the  purpose  of  obtaining  from  any  insurance  company 
any  insurance  moneys  for  himself  or  any  other  person ;  or  any 
person  who  shall  knowingly  aid,  assist  or  abet  the  beneficiary 
or  beneficiaries,  or  either  or  any  of  them,  named  in  any  policy 
or  certificate  of  insurance,  or  the  next  of  kin,  or  any  person 
having  an  insurable  interest  in  the  life  of  any  assured  who  has 
absconded  or  concealed  himself  for  the  purpose  of  obtaining  any 
insurance  moneys  for  himself  or  any  other  person,  in  attempting 
to  procure  or  procuring  such  moneys  shall  be  fined  not  less  than 
five  hundred  dollars  nor  more  than  three  thousand  dollars  or 
imprisonment  in  the  state  prison  not  less  than  one  year  nor 
more  than  five  years. 

4549g  (Ch.  3,  1911,  in  effect  Feb.  24,  1911.) 

State  officer  or  employee,  compensation  or  gift  for  service 
relating  to  duty,  penalty,  exception. 

Section  4549g.  Except  as  specifically  authorized  by  statute, 
no  officer  or  employe  of  the  state  shall,  directly  or  indirectlj^ 
receive  or  accept  any  sum  oi  money,  or  anything  of  value,  for 
the  furnishing  of  any  iniormation,  or  performance  of  any 
service  whatever  relating  in  any  manner  to  the  duties  of  such 
officer  or  employe.  Any  person  violating  this  section  shall  be 
punished  by  a  fine  of  not  less  than  twenty-five  dollars  nor  more 
than  one  thousand  dollars,  or  more  than  six  months  imprison- 
ment in  the  county  jail,  or  by  both  such  fine  and  imprisonment. 


20^  PENAL  PROVISIONS.  4575c 

■■»• 

45750 

.  Mutual  benefit  society;  acting  as  agent  after  license 
revoked. 

Section  4575e.  Any  person  who  shall  act  or  aid  in  any  man- 
ner in  transacting  in  this  state,  the  business  of  or  with  aii^r 
fraternal  or  beneficiary  corporation,  society,  order  or  associa- 
tion for  the  relief  of  members  or  beneficiaries  and  furnishing 
life  or  casualty  insurance  upon  the  indemnity  plan,  in  placing 
risks  or  effecting  insurance  therein,  collecting  duties  or  assess- 
ments therefor,  or  in  any  other  manner,  after  the  license  of  any 
such  corporation,  society,  order  or  association  has  been  re- 
voked and  while  it  is  without  authority  to  do  ])usiness  in  this 
state,  or  while  an  injunction  prohibiting  any  such  organization 
from  doing  business  in  this  state  is  in  force,  shall  be  punished 
by  a  fine  not  less  than  twenty-five  dollars  nor  more  than  two 
hundred  dollars,  or  by  imprisonment  in  the  county  jail  not 
less  than  thirty  days  nor  more  than  one  year,  or  by  both  such 
fine  and  imprisonment. 

Section  4575c  is  referred  to  in  45X5e. 

4575d 

Unauthorized  mutual  ben^t  society,  acting  as  agent  for. 

Section  4575d.  Any  pei*son  who  shall,  in  any  manner,  so. 
licit,  advise,  aid  or  procure  or  aid  in  soliciting,  advising,  as- 
isijsnng  or  procuring  any  person  to  become  a  member  of  any 
assessment  plan,  corporation,  society,  order  or  association  con- 
ducted for  mortuary,  endownment,  sick,  accident  or  permanent 
disability  benefit  or  any  other  kind  or  plan  of  assessment  in- 
surance, which  corporation,  society,  order  or  association  is  not 
authorized  to  transact  business  in  this  state,  or  who  shall  ac- 
cept, collect,  receive  or  be  instrumental  in  the  collection  or 
transmission  of  any  admission  fees,  assessments,  dues  or  pay- 
ments of  any  kind  whatever  on  account  oi  any  sucU  insurance 
or  benefit  certificate  in  any  such  corporation,  society,  order  or 
association  shall  be  punished  by  a  fine  of  not  less  than  fifty  dol- 
lars nor  more  than  three  hundred  dollars,  or  by  imprisonment 
m  the  county  jail  not  less  than  sixty  days  nor  more  than  .one 
year,  or  by  both  such  fine  and  imprisonment. 

4575e 

Fraud  in  obtaining  membership. 

Section  4575e.  Any  person  who  shall  knowingly  or  wil- 
fully make  any  false  or  fraudulent  statement  or  representation 
in  or  with  reference  to  any  application  for  membership  or  in 
or  with  reference  to  any  documentary  or  other  proof  for  the 

14—1.  L.  ■  .      " 


4575e  JOINT  RESOLUTION.  210 

purpose  of  obtaining  membership  in  or  benefit  from  any  such 
corporation,  society,  order  or  association  as  is  mentioned  in  sec- 
tion 4575  for  himself  or  any  other  person,  shall  be  fined  in  a 
sum  not  less  than  one  hundred  dollars  nor  more  than  one  thou- 
sand dollars,  or  be  imprisoned  in  the  county  jail  not  less 
than  three  months  nor  more  than  one  year,  or  both ;  and  any 
certificate  of  membership  or  policy  so  secured  shall  be  abso- 
lutely void. 

(Jt.  Res.  130A  concurred  in  June  5,  1911.) 


JOINT  RESOLUTION. 

Pertaining  to  the  subject  of  the  insurance  of  property  against 
fire  and  other  risks. 

Whereas,  During  the  five  year  period  to  1910,  there  was 
paid  by  the  citizens  of  this  state  to  licensed  fire  insurance  com- 
panies over  forty-two  million  dollars  against  less  than  nineteen 
million  dollars  repaid  for  losses,  and  the  percentage  of  pre- 
miums so  returned  in  losses  was  a  little  less  than  45  per  cent 
of  the  premiums,  leaving  the  excess  of  premiums  over  losses 
over  twenty- three  million  dollars;  and 

Whereas,  A  comparison  with  the  preceding  five-year  period, 
and  other  years  back  to  the  year  1870,  shows  an  increasing 
percentage  in  the  excess  of  premiums  over  losses ;  and  that  the 
average  ratio  of  losses  to  premiums  from  1870  to  1908,  inclu- 
sive, was  slightly  less  than  fifty  per  cent;  that  the  forty-four 
per  cent  during  the  last  five-year  period  is  increased  by  the 
exceptionally  heavy  losses  during  Ihe  year  1910,  but  includes 
losses  during  1909  and  1908,  which  are  in  excess  of  any  preced- 
ing year;  and 

Whereas,  The  foregoing  figures  and  the  information  avail 
able,  seem  to  indicate  that  the  business  of  fire  insurance  is 
conducted  at  an  increasingly  excessive  expense,  and  great  eco- 
nomic loss  to  the  citizens  of  this  state,  and  it  is  urged  that  the 
rates  charged  are  in  many  instances  discriminatory  and  may 
be  generally  excessive ;  that  the  operation  of  the  local  boards 
of  underwriters  provided  for  by  law  has  not  been  in  the  direc- 
tion  of  reducing  the  rates;  that  the  rates  generally  used  by 
companies  are  generally  uniform  and  made  by  individual 
raters;  that  in  several  cases  such  boards  of  underwriters  have 
made  rates  above  those  recommended  to  companies  by  indi- 
vidual raters;  and 


211  JOINT  REbOLUTlON.  Jt.  Res.  130,  A. 

Whereas,  It  is  charged  that  a  large  association  of  companies 
makes  contracts,  discriminating  in  the  payment  of  commissions 
to  agents,  who  represent  only  companies  belonging  to  such  as- 
sociation, and  agents  who  also  represent  companies  not  belong- 
ing to  such  association;  and  that  a  like  association  recently 
formed  is  making  like  discriminations;  and  that  commissions 
are  unequal,  discriminatory  and  excessive,  and  range  from 
fifteen  per  cent  to  as  high  as  thirty-five  per  cent  or  even  forty 
per  cent  of  the  premiums  paid;  and 

Whereas,  A  considerable  amount  of  insurance  is  placed  by 
large  insurers  with  outside  mutual  companies,  Lloyd  associa- 
tions and  inter-insurers,  which  are  not  admitted  to  this  state 
and  pay  no  taxes  therein,  thus  resulting  in  a  virtual  discrimi- 
nation in  favor  of  companies  who  transact  business  here  in 
violation  of  law ;  and 

Whereas,  It  is  claimed  that  by  a  proper  readjustment  and 
economizing  in  the  expenses  in  tire  insurance,  savings  will  be 
elfected  amounting  to  several  hundred  thousand  dollars  per 
year  to  the  citizens  of  this  state ;  and  that  by  securing  to  this 
state  its  proper  rating  based  upon  its  experience,  and  the  kind 
and  situation  of  the  property  insured,  and  the  encouragement 
of  inspections  of  the  property  insured  and  a  more  thorough 
knowledge  and  undestanding  of  methods  of  construction  and  of 
fire  prevention,  and  of  the  elements  involved  in  the  risk  and 
the  consequent  rate  of  premium  charged,  a  much  greater  sav- 
ing could  be  effected  annually  to  the  citizens  of  the  state; 
therefore  be  it 

Resolved,  by  the  assembly,  the  senate  concurring,  That  a 
joint  committee  consisting  of  four  members  of  the  assembly 
and  three  members  of  the  senate  be  constituted,  to  be  selected 
in  the  same  manner  as  other  committees,  whose  duty  it  shall  be 
to  make  a  thorousfh  investigation  and  examination  into  the 
methods  of  transacting  business  by  all  insurance  companies,  as- 
sociations and  insurers  of  every  kind  transacting  the  business 
of  fire  insurance,  or  effecting  any  insurance  or  indemnity 
against  the  risk  of  fire,  including  all  agencies  whatever  em- 
ployed in  the  transaction  of  said  business;  to  investigate  and 
examine  into  their  expenses  in  all  matters;  the  rates  charged 
and  the  manner  of  making  such  rates,  and  into  the  question  of 
discrimination  between  classes  of  property  or  of  insurers,  the 
regulations  and  practices  with  regard  to  the  collection  of  pre- 
miums, and  the  cancellation  of  policies,  and  the  payment  of 
return  premiums,  and  all  contracts  for  commissions  or  com- 
pensation of  agents,  and  any  discrimination  therein ;  the  meth- 
ods of  adjustment  and  payment  of  claims  for  losses,  and  the 


Jt.  Res.  130,  A.  JOINT  RESOLUTION.  212 

assets  and  liabilities  of  all  such  companies  or  insurers,  and  the 
nature  and  condition  of  their  investments,  methods  of  making 
investments  and  the  manner  in  which  their  funds,  securities 
and  assets  are  safeguarded;  and  generally,  to  make  any  and 
all  inquiry  in  regard  to  the  transaction  of  the  business  of  fire 
insurance  and  other  insurance  upon  property,  and  the  rates 
and  cost  of  such  insurance  and  expenses  incident  to  such  busi- 
ness; and  the  promotion  of  better  protection  against  fire,  and 
the  reduction  of  fire  losses  both  within  and  without  the  state, 
so  far  as  the  same  have  a  bearing  upon  the  cost  of  such  insur- 
ance to  the  citizens  of  this  state  or  the  fire  losses  therein.  The 
mention  of  any  particular  lines  of  inquiry  herein  shall  not 
limit  in  any  measure  the  field  of  investigation  which  said  com- 
mittee is  empowered  to  enter. 

The  said  joint  committee,  by  a  majority  of  the  members 
thereof,  are  hereby  invested  with  plenary  powers  to  perform 
and  discharge  the  duties  by  this  resolution  enjoined,  and  in  the 
exercise  of  such  power  among  other  things,  they  may,  by  sub- 
pKDena  issued  over  the  signature  of  the  chairman  or  acting 
chairman  of  said  committee,  and  served  in  the  manner  that 
circuit  court  subpoenas  are  served,  summon  and  compel  the 
attendance  of  witnesses,  and  the  production  of  all  bo!oks, 
papers,  documents  and  records  necessary  or  convenient  to  be 
examined  or  used  by  them  as  evidence.  They  may  also,  either 
as  a  committee  or  through  a  proper  person  authorized  by  them, 
examine  all  books,  papers,  documents  and  records  of  insurance 
companies  and  insurers,  or  of  corporations  or  persons  dealing 
with  such  companies  or  insurers,  and  may  do  all  other  things 
which  may  to  them  appear  necessary  or  convenient  to  make 
full  examination  and  investigation  as  directed  herein.  Said 
committee  shall  have  power  to  employ  such  counsel,  steno- 
graphers, clerks  and  assistants,  and  to  require  such  assistance 
and  co-operation  from  the  commissioner  of  insurance  and  his 
employes  as  they  may  find  necessary. 

The  committee  shall  also  have  power,  among  other  things,  by 
any  member  thereof  to  administer  to  persons  brought  or  ap- 
pearing before  them  as  witnesses  all  necessary  oaths. 

Such  committee  may  moreover  exercise  all  powers  provided 
by  law  or  this  resolution  at  any  time  prior  to  December  1,  1912, 
whether  during  the  session  of  the  legislature  or  otherwise. 

Said  committee  shall  with  all  reasonable  dispatch  discharge 
the  duties  hereby  imposed,  and  report  to  the  governor,  on  or 
before  December  1,  1912,  all  facts  found  and  testimony  taken 
by  them,  together  with  recommendations  thereon. 


213  JOINT  RESOLUTION.  Jt.  Res.  130,  A. 

(Ch.  512,  in  effect  July  5,  1911.) 

Investigation  of  fire  insurance  committee,  powers,  em- 
ployees, testimony,  recommendations,  report,  appro- 
priation. 

Section  1.  The  committee  of  the  legislature  appointed  un- 
der the  provisions  of  a  joint  resolution  to  investigate  the  sub- 
ject of  insurance  of  property  against  fire  and  other  risks,  is 
hereby  authorized  and  empowered  to  do  all  things  and  per- 
form all  acts  necessary  and  convenient  to  carry  out  the  pro- 
visions of  the  resolution  and  this  act,  and  such  authorization 
and  power  shall  continue  after  the  adjournment  of  this  legisla- 
ture. The  committee  so  appointed  is  hereby  authorized  thor- 
oughly to  investigate  the  subject  of  insurance  of  property 
against  fire  and  other  risks,  and  report  a  bill  or  bills  covering 
that  subject. 

SECTieasr-2.  The  committee  by  a  majority  vote  of  the  mem- 
bers thereof,  is  hereby  vested  with  plenary  powers  to  perform 
and  discharge  the  duties  by  the  said  resolution  and  by  this  act 
enjoined.  Any  member  of  said  committee  shall  have  power  to 
administer  oaths  to  persons  appearing  before  such  committee. 

Section  3.  The  committee  shall  have  power  to  employ  such 
stenographers,  clerks,  assistants  and  experts  as  it  may  deem 
necessary  and  expedient  for  the  proper  dicharge  of  the  duties 
hereby  assigned  to  it,  and  to  fix  the  compensation  of  such  per- 
sons as  it  shall  employ. 

Section  4.  The  committee  is  authorized  to  print  and  send 
to  each  member  of  the  legislature  at  least  sixty  days  before 
the  convening  of  the  session  of  the  legislature  referred  to  in 
said  resolution,  a  copy  of  the  proposed  bill  or  bills  framed,  put 
together  with  a  copy  of  the  finding  and  recommendations  of 
such  committee. 

Section  5.  The  committee  is  authorized  to  hold  such  meet- 
ings at  such  places  and  at  such  dates  as  it  shall  deem  most 
expedient. 

Section  6.  Each  member  of  said  committee  shall  be  reim- 
bursed by  the  state  for  his  actual  necessary  expenses,  but  shall 
receive  no  compensation  for  time  devoted  to  the  work  of  such 
committee. 

Section  7.  The  committee  may  by  subpoena,  issued  over 
the  signature  of  the  chairman  or  acting  chairman  of  said  com- 
mittee and  served  in  the  manner  in  which  circuit  court  sub- 
poenas are  served,  summon  and  compel  the  attendance  of  wit- 
nesses and  the  production  of  all  books,  papers,  documents  and 
records  necessary  or  convenient  to  be  examined  or  used  by  it 
in  the  course  of  the  discharge  of  its  duties. 


Jt.  Res.  130,  A.  JOINT  RESOLUTION.  214 

Section  8.  If  any  witness  subpoenaed  to  appear  before  said 
committee  shall  refuse  to  appear  or  to  answer  inquiries  pro- 
pounded, or  shall  fail  or  refuse  to  produce  books,  documents, 
papers  and  records,  within  his  possession  or  control  when  the 
same  are  demanded  by  said  committee,  such  committee  shall 
report  the  facts  to  the  circuit  court  of  the  county  in  which 
such  examination  is  being  conducted,  and  it  shall  be  the  duty 
of  such  court  to  compel  obedience  to  such  subpoena  by  attach- 
ment proceedings  for  contempt,  as  in  case  of  disobedience  of 
the  requirements  of  a  subpoena  issued  from  such  court,  or  a 
refusal  to  testify  therein. 

Section  9.  A  sum  of  money  sufficient  to  carry  out  the  pro- 
visions of  this  act  and  of  the  said  resolution  is  hereby  appro- 
priated, not  exceeding  in  the  aggregate  the  sum  of  twenty 
thousand  dollars,  out  of  any  money  in  the  state  treasury  not 
otherwise  appropriated.  All  bills  for  the  expenses  of  such 
committee,  including  witnesses'  fees,  the  compensation  of 
stenographers,  clerks,  assistants  and  experts  employed  by  such 
committee,  shall  be  approved  by  the  committee,  certified  by  the 
chairman  thereof  and  audited  by  the  governor  and  by  the  sec- 
retary of  state,  who  shall  issue  his  warrant  therefor  upon  the 
state  treasurer. 


215         REFRENCE  TO  SECTION  NUMBERS.     LAWS  OF  1899. 


TABLE   OF   CHAPTEKS   OF  SESSION   LAWS 
OF  1899-1911 

Giving  sections  of  ttie  statutes  created  or  amended. 


The  sections  of  tliis  compilation  are  taken  from  the  statutes  of  180S, 
and  the  laws  of  1S99,  1901,  1903,  1905,  1907,  1909  and  1911.  All  sec- 
tions are  arranged  numerically. 

Sections  from  the  statutes  of  1898  are  found  under  the  correspond- 
ing section  number. 

Laws  enacted  since  1898  may  be  found  under  the  proper  section 
number  by  referring  to  ihe  ta]>le  below: 

Th^  letter  "a"  preceding  the  sc^olion  number  indicates  that  the  session 
law  is  an  amendment,  the  letter  "n"  indicates  that  it  is  a  new  section. 


Laws  of  1S99. 

Ch. 

22 

a 

19.51 

Ch. 

25 

a 

1941—7 

Ch. 

27 

a 

1941—27 

Ch. 

32 

a 

1926 

Ch. 

101 

a 

19.55c     See  1957    (5) 

Ch. 

118 

Sec. 

1 

n 

1941— 27a     See  1941  g 

Ch. 

16G 

Sec. 

1 

n 

1906a 

Ch. 

166 

Sec. 

2 

n 

1908a 

Ch. 

168 

a 

1929 

Ch. 

169 

a 

1937 

Ch. 

190 

Sec. 

1 

n 

1919a  to  1919e 

Ch. 

192 

a 

1971 

Ch. 

270 

n 

1955—1  to  1955—16 

Ch. 

316 

a 

1941—46 

Ch. 

328 

a 

1220 

Ch. 

344 

Sec. 

1- 

n 

1919g 

Ch. 

351 

Sec. 

30 

a 

1966—36 

Laws  of  1901. 

Ch. 

21 

a 

1220 

Ch. 

69 

a 

1941—5 

Ch. 

81 

a 

1928 

Ch. 

144 

Sec. 

2 

a 

1925 

Ch. 

202 

a 

1927 

Ch. 

221 

n 

1955— 7a 

Ch. 

232 

n 

1914a 

Ch. 

233 

a 

1972b 

Ch. 

235 

n 

1966— 19a 

Ch. 

249 

n 

1978f  to  1978m 

Ch. 

442 

a 

1955a     See  1958 

Ch. 

449 

n 

1955n— 1 

LAWS  OF  1903.     REFRENCE  TO  SECTION  NUMBERS.         216 


Laws  of  1903. 

Ch.   6 

a  1951 

Ch.  15 

n  2347b 

Ch.  44 

n  1087—13  (2)  and  1087- 

Ch.  56 

n  1955a — 1 

Ch.  68 

n  1978a— e 

Ch.  93 

n  1941— la 

Ch.  98 

a  1941—13 

Ch.  106 

n  1986— 33a 

Ch.  130 

11  1966—49 

Ch.  140 

n  1941— la 

Ch.  190 

a  2637  (9)  (10)  (11) 

Ch.  205 

a  1941—24 

Ch.  205 

a  1941—25 

Ch.  208 

a  1220 

Ch.  214 

a  1947 

Ch.  217 

a  1941—1 

Ch.  237 

a  1954 

Ch.  247 

a  1941—15  and  1941—16 

Ch.  352 

a  1931 

Ch.  394 

n  1905a 

Ch.  413 

n  1966—49 

Ch.  436 

a  1966—38 

15    (2) 


Laws  of  1905. 


Ch.  36 

a  1931 

Ch.  38 

a  1976 

Ch.  51 

a  1945a 

Ch.  55 

n  1941— 22a  to  1941— 22i 

See  1941g 

Ch.  92 

a  1972 

Ch.  102 

a  1941—64 

Ch.  108 

a  1966—1 

Ch.  166 

n  1919a 

Ch.  167 

a  1974 

Ch.  170 

n  1955—21  to  1955—26 

Ch.  171 

n  1966  31a 

Ch.  180 

a  1967 

Ch.  181 

a  1920 

Ch.  195 

a  1966—8 

Ch.  196 

a  1941—7 

Ch.  205 

a  1966—38 

Ch.  206 

n  1914a 

Ch.  212 

a  1972b        .^ 

Ch.  253 

a  1951  • 

Ch.  325 

a  1219 

Ch.  353 

a  1977 

Ch.  356 

a  1941—40 

Ch.  357 

n  1955g 

Ch.  425 

a  1967 

Ch.  448 

a  1952 

Ch.  451 

a  1971 

Ch.  455 

a  1220 

Ch.  503 

a  1967a 

Ch.  501 

n  1966—49 

Ch.  509 

a  1772,  1773,  1774 

Ch.  519 

a  1950 

217        REFERENCE  TO  SECTION  NUMBERS.     LAWS  OF  3907. 


Laws  of  1907. 


Ch.  126 
Ch.  127 
Ch.  131 
Ch.  132 
Ch.  146 
Ch.  150 
Ch.  228 
Ch.  342 
Ch.  389 
Ch.  391 
Ch.  420 
Ch.  431 
Ch.  432 
Ch.  439 
Ch.  442 
Ch.  447 
Ch.  457 
Ch.  483 
Ch.  501 
Ch.  504 
Ch.  511 
Ch.  525 
Ch.  546 
Ch.  562 
Ch.  584 
Ch.  597 
Ch.  621 
Ch.  636 
Ch.  637 
Ch.  640 
Ch.  656 
Ch.  657 
Ch.  658 
Ch.  667 
Ch.  668 


Ch.  31 
Ch.  33 
Ch.  38 
Ch.  39 
Ch.  58 
Ch.  63 
Ch.  99 
Ch.  100 
Ch.  108 
Ch.  113 
Ch.  116 
Ch.  118 
Ch.  120 
Ch.  130 
Ch.  153 
Ch.  158 
Ch.  209 
Ch.  228 
Ch.  244 
Ch.  259 


u 

1946f 

11 

1953b 

11 

1953e 

a 

1948 

11 

19470 

a 

1949 

11 

1946g  to 

1946q 

a 

1953d 

11 

1760m 

n 

1947p 

n 

3781a 

a 

1941—1 

a 

1945e 

a 

1927 

a 

1931 

11 

1955y— 1  and  1955y— 2 

a 

1935 

n 

19550—5 

a 

1976 

a 

19550 

a 

1955a 

a 

1941—47 

and  1941—64 

a 

1955J 

a 

1772 

n 

195311 

a 

1954 

n 

1947r 

n 

1952a  to 

1952d 

n 

1946X 

a 

1947 

a 

1220 

n 

1950n  to 

1950t 

n 

1952f  to 

1952i 

n 

1917c  to 

1947k 

n 

1950m 

Laws  of  1909. 

a 

1927   (3), 

1940 

n 

1955—23111,  a  1955—25 

a 

3871a 

a 

1947  (3) 

a 

1947g 

11 

194111 

a 

1931  (2) 

a 

1945c 

n 

194Sm 

a 

1978c 

a 

1976 

a 

1966—50 

a 

1946X,  a  1950q,  a  1952d 

n 

1941a— 1 

to  4 

a 

1931a 

11 

1955b— 5 

I  1950.  11  1950a,  1950b,  1950c 

a 

1947b,  j. 

k,  n 

a 

1941—16 

n 

1219m 

LAWS  OF  1909.     REFERENCE  TO  SECTION  NUMBERS.        218 


Laws  of  1909 — continued. 

Ch.  267  a  1903 

Ch.  274  n  1941— 9m 

Ch.  288  n  4202m 

Ch.  290  a  1219 

Ch.  296  a  1972 

Ch.  355  a  1772 

Ch.  390  a  1946n  (3) 

Ch.  449  n  1947o   (5) 

Ch.  459  a  1941—2,    1941—5,    1941—9,    1941—10,    1941—11, 

1941—12  ■ 

r  1911—3,  1941—6,  1941—8,  1941—13 
Ch.  460  n  1219e,  1896,  1897,  1897a,  1897b 

n  1897c,   1897d,  1897e,  1897g,  1897i 
n  1897s,  1897t,  1898,  1898d 
n  1901J,  1901m,  1901n,  1941g 
a  1908 

r  1896,  1897,  1898,  1899,  1900,  1901,  1907,  1911a  to 
1941f,  1941—1,  1941— la,  1941—3,  1941— 
8,  1941— 13,  1941—14  to  1941—22,  1941 
—22a  to  1941— 22i,  1941—23  to  1941— 
32,  1941—33  to  1941—41,  1966—2  to 
1966—12,  1966—13  to  1966—24,  1966— 
25  to  1966— 31a,  1966—41,  1966—43, 
1966—49,  1966—50  to  1986—54,  1966— 
61   to   1966—71,  and   1966—81  to  1966 


Ch. 

521 

a 

1941—7,  n  1941— 7m 

Ch. 

536 

u 

1950d 

Laws  of  1911. 

Ch. 

3 

n 

4549g 

Ch. 

27 

a 

1976 

Ch. 

32 

Amends  and  renumbers  1955a  to  be  1958 

Ch. 

57 

a 

1955—23 

Ch. 

66 

n 

1908m 

Ch. 

83 

n 

1970p 

Ch. 

84 

n 

1960 

Ch. 

87 

n 

1919m                                                                     ' 

Ch. 

152 

n 

1895m,  1970m,  1970n 

Ch. 

154 

n 

1900 

Ch. 

155 

.     a 

1931 

Ch. 

156 

a 

1936 

Ch. 

157 

a 

1902,  1903 

Ch. 

158 

n 

1897k,  r  1942—1 

Ch. 

159 

r 

1941— 13a  to  1^41— 13n,  1941— 14m,  1941— 14t, 
1941— 32a  to  1941— 32o 

Ch. 

165 

a 

192S 

Ch. 

167 

a 

1941—9 

Ch. 

175 

Amends  and  renumbers  1955a  to  1958 

Ch. 

190 

a 

1966     34 

Ch. 

208 

n 

1948f 

Ch. 

210 

n 

1957  (5m) 

Ch. 

216 

n 

1956,  1957  (3,  10,  11),  1958  (15,  16,  17)  1959  (22, 
24,  25,  27,  28,  30),  renumbers  1955c  to 
1957  (5),  1955g  to  1959  (23),  1955i  to 
1959  (26),  19551v  to  1959  (29),  r  1955b, 
1955d,  1955e,  1955f,  1955h,  1955j,  19551, 
1955m,  1955n,  1978x 

219        REFERENCE  TO  SECTION  NUMBERS.     LAWS  OF  1911. 


Laws  of  1911 — continued. 


Ch.  235 

n 

1899 

Ch.  247 

a 

1941—64 

Ch.  265 

a 

1955y— 1 

Ch.  270 

a 

19550,  r  1943  1 

Ch.  275 

a 

1897,  1897a,  1897g 

Ch.  277 

a 

1915 

Ch.  280 

n 

1897f 

Ch.  287 

n 

1897f  (2m) 

Ch.  295 

a 

1953n,  1954 

Ch.  310 

n 

19550   (5m) 

Ch.  311 

n 

19550  (2,  (1) 

Ch.  341 

a 

1772 

Ch.  436 

a 

1919a,  r  1945e 

Ch.  484 

a 

128,  n  1986y 

Ch.  502 

a 

1951 

Ch.  507 

n 

4202s 

Ch.  512 

Investigation 

Ch.  532 

a 

1760,  n  1774n 

Ch.  577 

n 

1989m 

Ch.  578 

n 

1926m 

Ch.  581 

n 

1968f 

Ch.  603 

Amends  and  renumbers  1978e  to  1978h,  n  1978f 

Ch.  609 

a 

170   (14) 

Ch.  648 

a 

1967a,  1968 

Ch.  663 

i      ^ 

orrection  acts,  amend  and  renumber  sundrey  sec- 

Ch. 664 

\ 

tions. 

ABANDONMiENT  TO  ADDITIONAL.  220 


INDEX. 


The  references  are  to  the  sections  which  are  arranged  numerically. 
The  section  numbers  are  taken  from  the  statutes  of  1898,  Sanborn 
and  Sanborn's  Supplement  and  the  laws  of  1907,  1909  and  1911. 
To  find  a  section  by  a  reference  to  a  chapter  of  the  se3Sion  laws  of 
1899  to  1911,  see  preceding  table,  p.   .  .  . 


Abandonment,  none,  standard  fire  policy,  1941 — 44 
Absconding  to  perpetrate  fraud  on  life  companies,  443Se 
Acceptance  of  nominations,  life  companies,  domestic  mutual,  1947e 
Accident, 

see  disability  insurance 
Accident,  mutual  benefit  society,  1956  (5) 
Accident,  mutual  benefit  societies,  1953  (4) 
Accident  association,  deposit,  1957  (4) 
Accident  business,  deposit  in  other  states,  mutual  benefit  societies,  1951 

(5) 
Accident  companies 

see  disability  companies 

see  mutual  benefit  societies 
Accident  companies, 

see  re-insurance,  life  companies. 
Accident  insurance, 

see  disability  insurance 

see  disability,  mutual  benefit  society 
Accounts,  audit,  state  life  fund,  1989m  (17) 
Action, 

see  attorney  for  service  of  process 

see  removal  of  cause 
Action  against  insurance  comi)anies,  joinder,  2609a 
Action  by  casualty  company,  credits  or  debts  guaranteed,  1986 — 40 
Action  for  forfeiture,  commissioner  to  bring,  1972a 
Action  on  assessment, 

casualty  companies,  domestic,  1966 — 46 

city  and  village  mutuals,  1941 — 10 

fire  companies,  foreign,  1945b 

foreign  accident  companies,  1945b 

town  mutuals,  1936 
Actuary,  salary,  170 
Actuaries'  department,  170  (14) 
Actuaries'  mortality  table, 

valuation,  life  policies,  1950,  1950c 
Additional  commission  prohibited,  life  companies,  1950s 
Additional  deposit,  see  deposit 


221  ADJUSTMENT  TO  AMOUNT.  A 

Adjustment,  see  loss 

county  buildinj^s,  state  insunince  fund,  1978f— 5 
Admission  of,  1968 

assessment  companies,  195r»y — 1 

casualty  companies,  foreign,  IDGlJ — 32 

fire  companies,  foreij^n,  1015 

bail  insurance  companies,  foreign,  1986 — 1 

mutual  benefit  socreties,  foreijjn,  1958  (16) 
Advances  to  agents,  limited  to  expense  charge,  life  companies,  1950q 
Advances  to  agents,  rej)ort,  life  companies,  1950n 
Advertisement,  see  misrepresentaticm 
Advertising,  report,  life  companies,  1950n 
Advisory  board  prohibited,  life  companies,  1955o 
Aflldavit,  surplus  lines,  1919m 
Age  limits,  mutual  benefit  society.  1957  (3) 

Agency  supervision  expense  report,  life  companies,  1950n,  1954  (25) 
Agent, 

see  agent,  license 

see  agent,   resident 

acting  for  unauthorized  mutual  benefit  society,  4575d,  4575e 

acting  with  in  sale  of  stock,  disclosure  required,  1897f 

application,  organization  life  companies,  license,  1947  (3) 

bond  to  pay  fire  department  duty,  1926 

combination  prohibited,  1943b 

commission  on  own  insurance,  1955o    (2c) 

compensation  only  as  agreed,  life  companies,  1950r 

definition,  1977 

discrimination  prohibited,  1955o 

fire  department  dues,  1927m 

liability,  policy  in  authorized  company,  1945e 

license,  1976 

local  association  may  make  rates,  1943b 

Milwaukee,  report  residence,  1946 

misrepresentation,  life  companies,  1946f 

rebating,  1955o 

resident,  to  write  insurance,  exceptions,  1919a 

risk  in  unauthorized  company,  penalty,  1919f 

surplus  lines,  1919m 
Agent,  license 

see  license 

companies  to  issue,  1976  (2) 

domestic  company,  charter  fees  for  filing,  1972 

existing  not  affected,  1976  (3) 

fire  and  marine  companies,  foreign,  1971,  1972 

forfeiture,  1972  (4) 

life  companies,  1971 

penalty,  1976  (4) 

return  to  commissioner,  1972  (2) 

revocation,  1955o 
Agent,  resident 

Ijoyds  insurance,  1945g 

risk  approved  by,  1919a 
Agreement,  participating  and  non-jiarticipatlng  policies,  1947o   (5) 
Amendments, 

see  articles 
American  experience  select  mortality  table,  valuation,  life  policies.  1950c 
American  experience  table,  assessment  life  insurance,  1955y — 1 
American  experience  table  of  mortality,  life  companies,  1950,  19i50c 
American  experience  table,  state  life  fund.  1989m   (4) 
Amount  at  risk,  defined,  life  companies,  1946x 


AMOUNT  TO  ASSESSMENT.  222 


Annual  dividends,  rates,  report  life  companies,  1954  (28) 

Annual  meetings,  see  elections 

Annual  report,  see  report 

Annual  report,  mutual  benefit  society,  1959  (23) 

Annual  statement,  see  report 

Annuity,  charged  on  deficient  premium,  life  companies,  1950 

Annuities,  conditions,  state  life  fund,  1989m   (16) 

Annuities,  may  be  non-participating,  1947e 

valuation,  1950d 
Annuities,  state  life  fund,  1989m  (5,  16) 
Annulment,  see  cancellation 
Applicant  may  inspect  schedule,  1943b 
Aplication, 

attached  to  policy  of  fire  company,  1945a 

contents,  life  companies,  1917   (3) 

copy  attached  policy,  1900 

copy,  life  companies,  1953b 

disability  insurance,  1960,  Id,  (1) 

part  of  contract,  standard  fire  policy,  1941 — 50 

state  life  fund,  l989m  (7) 

statement,  separate  premiums,  194Sm   (2) 

warranty  in,  4202m 
Application  for  admission,  contents,  casualty  companies,  foreign,  1915, 

1966—32 
Appointment,  attorney  service  of  process,  mutual  benefit  society,  1958 

(16)    (17) 
Appointment,  commissioner  of  insurance,  1936y 
Appointments  by  commissioner  filed  with  secretary  of  state,  1967a 
Appraisal,  standard  fire  policy,  1941 — 44,  1946 — 56 
April  1,  expiration  license,  mutual  benefit  society,  1958  (15) 
Appropriation  to  state  insurance  fund,  1978e 
Appropriation,  ch.  512,  1911,  following  4575e 

Approval  by  commissioner,  re-insurance,  life  companies,  1955 — 22 
Arbitrators,  standard  fire  policy,  1941 — 56 
Arson,  investigation,  state  fire  marshal,  1946j 
Arson,  injuring  insurer,  penalty,  4405 
Articles, 

domestic  companies,  1772  (7),  1897 

contents,  mutual  companies,  1897c 

filing,  insurance  companies,  1896 

filing  mutual  benefit  society,  1958  (16) 

filing,  town  mutuals,  1941n 

life  companies,  domestic,  1947 

life  companies,  foreign,  1953 

limitation  of  term  of  duration  of  corporation  removed,  194 J g  (4), 
1941n 

recording  insurance  companies,  1896 

town  mutuals,  1927 
Articles,  amendment, 

domestic  companies,  1772 

filing,   recording,  1774 

increase  of  capital,  1774,  1908 

life  companies,  domestic,  1947  (4) 

mutual  benefit  societies,  notice,  1955b — 5 

town  mutuals,  filing,  recording,  1927  (3) 

town  mutuals,  territory,  19  iO 
Assessment, 

see  action  on  assessments 

casualty  companies,  domestic,  1966 — 46 

certificate  as  evidence,  4182 


223 ASSESSMENT  TO  BALLOT.  A 

Assessment — continued. 

defined,  mntual  ]>enetit  society.  lO.lfi  (10) 

fire  companies,  foreij?n  mutual,  10451 

impairment  of  capital,  commissioner  to  prescribe  notice,  1069 

increase,  fire  companies,  forei.a:n  mutual.  104.")! 

notice  to  mortj?ap:ee,  city  and  villajre  mutual,  1041 — 0 

notice  omitted,  city  and  village  mutual.  1041 — Om 

town  mutunis,  1035 
Assessment  life  companies,  valuation  of  policies,  1955y — 1,  1955y — 2 

American  experience  table,  1055y — 1 

policy-holders,  credits  to,  1955y — 1 

interest,  maximum,  4  per  cent,  1955y — 1 

statements  to  policy-holders,  1955y — 1 
Assets,  see  misrepresentation 

Assets,  disability  benefits,  mutual  benefit  society,  1959  (22) 
Assets  in  United  States  to  be  shown,  1910a 
Assets  not  equal  to  liabilities,  life  companies,  1949 

Assets,  re-insurance  permitted  to  amount  of,  casualty  companies,  do- 
mestic, 1936—48 
Assets,  single  risk  not  to  exceed  one-tenth,  insurance  generally,  189S, 

mutual  ])enefit  societies,   rj5.5a — 1 
Assignment,  form,  standard  fire  policy.  1941 — 03 
Assignment  before  loss  avoids  standard  fire  policy.  19tl — 46 
Assignment  by  married  woman,  prior  excepted.  2347b 
Assignment   of   policy,    how   made,   life  companies,    domestic   mutual, 

1947c 
Assignment  of  policy,  standard  fire  policy,  1941 — 46 
Assistant  actuary,  salary,  170  (14) 

Assistant  fire  marshal,  appointment,  state  fire  marshal,  1946g 
Assistant,  appointment,  state  £re  marshal,  1946h 
Association,  see  agents 
Attendance,  see  directors 
Attorney, 

deputy  fire  marshal,  one  to  be,  1946h 

service  of  process  on,  2637  (9) 

verified  copies,  service,  4182a 
Attorney  for  service  of  process,  1919,  1958 

fire  companies,  foreign.  1915  (2) 

fire  or  marine  companies,  foreign,  1919 

life  companies,  foreign,  19.53 

Lloyds  insurance,  1945g,  19781 

mutual  benefit  societies,  foreign,  19.58  (17) 

revocation  of  license  not  to  discontinue,  1947  (5) 
Attorney  general, 

combination,  prosecution,  1943b 

forfeiture,  action  for,  1943a,  3300 

form  of  license,  1222 

member  of  commission,  re-insurance.  1955—24 
Attorney  to  transact  business,  Lloyds  marine  insurance.  1978g 
Automatic  premium  loan,  see  premium  loan 
Automobile  insurance,  1897a 


Ballot, 

duplicate,  life  companies,  domestic  mutual,  1947f 

form,  life  companies,  domestic  mutual,  1947g 

mailing  no  waiver,  life  companies,  domestic  mutual,  19t7j 

name  inserted  when,  life  companies,  domestic  mutual,  1947e 

preservation,  life  companies,  domestic  mutual,  19471 

separate,  other  question,  life  companies,  domestic  mutual,  1947f 

tampering,  life  companies,  domestic  mutual,  19471 

to  be  mailed,  life  companies,  domestic  mutual,  1947f 


B  BANK  TO  CAPITAL.  224 

Bank  balances,  report,  life  companies,  1954  (26) 

Bank,  guarantee  depositors,  1897   (9) 

Banking  business  proliibited,  life  companies,  domestic,  1951 

Bankruptcy,  see  insolvency,  1945  i 

Beneficiary,  I 

change  of,  mutual  benefit  societies,  1957  (5) 

defined,  life  companies,  1946x 

married  woman,  may  be,  2347 
Beneficiary  corporations,  societies,  orders  or  associations,  see  mutual 

benefit  societies 
Benefits  equivalents,  policy  provision,  1948m  (4) 
Benefits  on  lapse,  mutual  benefit  society,  1858  (2) 
Boards  of  fire  underwriters  and  fire  patrol,  1922—1925 
Board    of  underwriters,  1922 
Bond,  see  fidelity  bond 
Bond,  agent,  surplus  lines,  1919m 

Bond  of  casualty  company,  acceptance,  authorized,  1966 — 33 
Bonds, 

included  in  stock,  1897f 

investment  in  corporate,  1903  (2) 

investments  in  railroad  and  public  service,  1903 

state  and  municipal,  investments  in,  1903 

sureties,  approval,  filing,  commissioner  of  insurance,  1937 
Bonuses  prohibited,  life  companies,  1950s 
Books,  see  evidence 

Books  of  account,  standard  fire  policy,  1941 — 55 
Books  of  insurance  companies,  copies  as  evidence,  4182a 
Borrowing  money,  city  and  village  mutuals,  1941 — 9 

mutuals,  1897g   (4) 
British  Friendly  Society  Table  (1876  to  1880),  1950d 
British  Offices  Annuity  Tables  (1893),  1950d 
British  Offices  Select  O.    (M.)   Mortality  table,   valuation,  life  polices, 

1950e 
Building,  see  premises 
Buildings  to  be  insured,  investments,  1903 
Burglary  insurance,  classification,  1897   (10) 
Burning  property  to  injure  insurer,  4405 
By-laws, 

amendment,  1941g   (3) 

laws  repealed,  1941g  (2) 

filing,  forfeiture,  insurance  companies,  1897d 


Cancellation, 

by  company,  disability  insurance,  1960 — Id  (8) 

city  and  village  mutuals,  19  il — 11 

town  mutuals,  1937 

policy  misrepresentation,  1946d 

request  of  insured,  disability  insurance  1960 — Id  (9) 

short  rate,  1946d 

standard  fire  policy,  1941 — 52 
Capital, 

investment,  domestic  companies,  1903 

paid  in,  domestic  companies,  1773 

required,  stock  companies,  1897g 

stock  companies,  1908 

subscribed,  domestic  companies,  1773 
Capital  stock, 
'  see  capital 

casualty  companies,  domestic  mutual,  1966 — 46 

flre  companies,  foreign,  1915  (1) 


225  CAPITAL  'i'O  CASUALTY.  C 

Capital  stock — continued. 

diYidend.   liability,   casualty  companies,   domestic,   1966 — 45.   1966 

—46 
policies  to  state.  1946b 
reduction.  1970 

report,  life  companies.  10.54  (4) 

subscription,   casualty  companies,   domestic,   1906 — 45 
Capital  stock,  impairment. 

f'asualty  companies,  domestic.  1966 — 46 

fire  companies,  foreign.  1915  (2),  1917 

life  companies.  1955 

commissioner's  duty,  1969.  1970 
Capital  stock,  increase. 

conditions.  1774m 

limitations.  1774n 

fire  companies,  domestic.   190.9 

casualty  companies,  domestic,  1966 — 45 
C^ipital  stock,  minimum, 

casualty  companies,  foreijsrn.  1968 — 82 

fire  companies,  domestic.  189S 

life  companies,  domestic,  1947  (3) 
Cash,  see  premium 

Cash,  report,  life  companies.  1954   CS^ 
Cash  surrender,  notice,  state  life  fund,  1989m   (11) 
Cash  value,  co-insurance.  194.8e 
Cash  value,  liability,  standard  fire  policy.  1941 — 44 
Cash  value,  limitation  below  prohibited.  1948a 
Casualty  company  bond. 

see  fidelity  bond 
Casualty  comnanies. 

see  casualty  comnanies.  domestic 

see  cnsuRlty  comoanies.  foreijsrn 

sop  disability  companies 

action  on  credits  or  debts  srunrnnteed.  1966 — 40 

bond  of.  acceptnnce  authorized.  1966 — .^8 

certificate  of  authority  to  issue  fidelity  bonri.  196R — 88a,  1966^34 

certificate  to  accomnany.  in  lustic^  court.  1966 — 88a 

charter  forfeited  for  unlawful  dividend.  in6<^ — 4i 

conditions  to  be  snecified,  employer's  h'nbilitv  policy.  1966 — 42 

posts,  fidelity  bond  of  chargeable  as.  1966 — 86 

county  to  pay  expense  of  fidelity  bonrl.  1966 — 88 

credit  sruarantee  business.  poT\-ers.  1966 — 40 
.    r»eposit  of  rnopf^v  by  principal  on  casualtv  fidelity  bond.  1966 — 87 

directors'  liabilitv.  dividends,  how  avoided.  inR6 — ^^ 

d'sburspments.  fidelity  bond  chnr«reable  as.  1966 — 86 

dividends,  limitation,  sources.  196*^ — ^4 

employer's  liability  policy,   prohibited   provisions.    1966 — 42 

estoppel,  authority  to  execute  fideh'tv  bon*!.  1966 — 39 

expense  of  fidelity  bond,  limitatinp.  1966 — 88 

forfeiture  of  charter,  unlawful  dividend.  1966 — 44 

form  of  undertakincr.  iustice  court.  1966 — 38a 

indemnity,  credit.  1966 — 40 

iustification.  certificate  equal  to.  1966 — 84 

justice  court,  fidelity  bond.  in.  1966 — 83a 

laws  apply  to  foreign  companies,  1966 — 82 

^'cense  fees.  1219e 

limitation  of  premium,  fidelity  bond.  1966—86.  1066—38 

limitation,  time  for  notice  of  injury.  1966 — 49a 

mailins:  rearistered  notice  of  iniury.  1966 — 49a 

municipality  to  pay  expense  of  fidelity  bond.  1966 — 36 

notice  of  Injury,  1966— 49a 

15— I.  L. 


C  CASUALTY  TO  CERTIFICATE.  22a 

Casualty  companies — continued. 

policy  to  specify  time  for  notice  of  injury.  1066 — 49a 

premium  on  fidelity  bond  charg:eable  as  disbursement,  1986 — 36 

resristered  mail,  notice  by  sufficient,  1966 — 49a 

release  from  liability,  fidelity  bond,  1966 — 35 

resident  agent,  1955e,  1919a 

state  to  pay  expense  of  fidelity  bond.  1966 — 38 

stockholder,  liability  for  unlawful  dividend.  1966 — 44 

surety,  casualty  company  may  be,  1966 — 34 

surplus,  how  computed.  1966 — 44 

time  for  notice  of  injury,  policy  to  specify.  1966 — 49a 

town  to  pay  expense  of  fidelity  bond,  1966 — 38 

undertaking:  in  justice  court  by,  1986 — 33a 

village  to  pay  expense  of  fidelity  bond,  1966 — 38 

year  means  calendar  year,  1968 — 44 
Casualty  companies,  domestic,  1986 — 25,  1986 — 31a 

see  casualty  companies  | 

assessments  on  impairment  of  capital  stock.  1966 — 46  I 

assets,  re-insurance  permitted  to  amount,  1966 — 48  ^ 

capital  stock,  cancellation,  1966 — 46 

capital  stock,  increase,  vote.  1966 — 45  « 

capital  stock,  reduction  on  impairment,  1966 — 46  J 

capital  stock,  stock  dividend,  1968 — 45  1 

capital  stock,  transfer  not  to  release,  1966 — 46 

directors,  forfeiture  of  stock  on  impairment,  1966 — 46 

directors,  liabilities  on  organization,  1966 — 28 

directors,  new  risks,  when  liable  for.  1966 — 46 

directors,  three-fourths  to  approve  dividend,  1966 — 45 

impairment  capital  stock.  1966 — 46 

insolvent,  when  dissolved.  1966 — 46 

notice  of  increase  of  capital  stock,  1966 — 45 

premiums,  reserve  liability  not  less  than  50  per  cent,  1966 — 46 

receiver  may  re-insure,  1966 — 48 

re-insurance  by  receiver,  1966 — 48 

reserve  liability,  1966 — 46 

stockholders  to  make  good  impairment,  1966 — 46 

vote  on  reduction,  capital  stock,  1966 — 46 
Casualty  companies,  foreign,  1966 — 32,  1966 — 49a 

see  casualty  companies 

additional  deposit,  1966—32 

admission,  condition  of,  1966 — 32 

attorney,  appointment,  1966 — 32 

capital  stock,  minimum,  1966 — 32 

deposit,  1966—32 

laws  relating  to  domestic  casualty  companies  apply  to,  1986 — 32 

license,  expiration  of,  accident  companies,  1916 

statement  of  financial  condition,  1966 — 32 
C^prtificate, 

see  license 

see  stock  certificate 

contents,  certificate  for  stock.  1760 
Certificates,  domestic  companies,  1897t 
Certificate  of  assessment,  see  assessment 
Certificate  of  authority,  see  license 

fidelity  bond,  1966—34 
Certificate  of  deposit  with  state  treasurer,  1973 
Certificate  of  loss,  magistrate,  1945d 
Certificate  of  magistrate,  standard  fire  policy,  1941 — 55 
Certificate  of  valuation,  1950  (7) 

Certificate  to  casualty  bond  in  Justice  court,  1966^3}v 
Certificate  to  n^utual  tjeueflt  societies.  19551) 


227  CERTIFICATES  TO  COMBINATION. 


Certificates  withheld  by  commissioner.  19G8 

Certificates,  see  policies,  mutual  benefit  society,  1958  (15) 

Change  of  beneficiary,  see  beneficiary 

Chapter  35  referred  to  in  1041 — 12 

Chapter  86  referred  to  in  lf)22,  1947,  1955b 

Chapter  89  referred  to  in  1914 

Charj^re  on  return  premium,  see  short  rate 

Charter,  see  articles 

Charter,  copy  filed  by  life  companies,  foreign,  1953 

fees  to  commissioner  for  filing,  1972 

forfeited  for  unlawful  dividend,  casualty  companies,  1966 — 44 
Chattel  mortgage,  standard  fire  policy,  1941 — 46 
Chief  clerk,  commissioner  to  appoint,  salary.  1967a,  170  (14) 
Chiefs  of  fire  departments,  fees  from  state  fire  marshal,  1946a 
Children,  policy  payable  to  on  death  of  married  woman,  2347 
Church  mutuals.  repeal,  by-laws,  1941g 
Circuit  court,  insolvency.  1970n 

Circuit  judge  to  appoint  umpire,  standard  fire  policy,  1941 — 56 
City  clerk  and  treasurer,  state  life  fimd.  1989m  (6,  8) 
City  and  village  mutuals,  1941—2.  1941—12 

action  on  assessment.  1941 — 10 

assessments.  1941 — 7.  1941 — 9 

assessment  notice,  omission,  validation.  1941 — 9m 

assessment,  notice  to  mortgagee,  1941 — 9 

borrowing  money,  1941 — 9 

cancellation.  1941- — 11 

contingent  fund,  limitation,  1941 — 7 

directors  liability.  1941 — 10 

fees  of  treasurer,  1941 — 9 

license  fee,  1219 

loss,  notice.  1941 — 9 

meeting,  annual.  1941 — 2 

members,  who  are,  1941 — 7 

notice  of  assessments,  1941 — 9 

policies,  standard  required.  1941 — ^ 

policy  fee,  limitation,  report,  1941 — 7m 

policies,  term.  1941 — 5 

property,  what  may  insure,  1941 — 5 

proxy  vote,  by  whom,  1941 — 2 

repeal,  by-laws,  1941g 

reports,  annual,  1941 — 12 

risk,  single,  1941 — 5 

surplus,  basis  for  single  risk.  1941 — 5 

suspension.  1941 — 9 

term  of  policy.  1941 — 5 

treasurer,  bond  of,  1941 — 4 

validation,   assessment,   1941 — 9m 

vote,  each  member  one,  1941 — 2 

withdrawal.  1941—11 
Cities,  insurance  by  town  mutuals.  1931 

Civil  authority  excepted  risk,  standard  fire  policy,  1941 — 47 
Civil  war,  excepted  risk,  standard  fire  policy,  1941 — 47 
Claims  resisted,  life  companies,  1954  (27) 
Classification. 

see  directors 

see  risks 

insurance  companies,  1897 
Clerks,  salary,  170  (14) 
Clerks,  state  fire  marshal,  1946n 
Collateral  security,  investments  in,  1903  (2) 
Combmatlon  poUeies.  stat^  life  fund,  lQS9m  (17) 


C  •  COMMERCE  TO  COMMISSIONER.  228 

Commerce  and  labor,  department  of,  valuation,  life  companies,  1950  (5) 
Commission,  aj?ent,  rebating,  own  insurance,  1955   (2c) 
Commission,  new  members,  mutual  benefit  society,  1956  (6) 
Commission,  re-insurance,  life  companies,  1955 — 24 
Commissions,  division  of,  license,  1955o  (2e),  1976  (5) 

general  agents,  report,  life  companies,  1954  (25) 

liability  of  persons  receiving,  1897f 

limitation  to  expense  charge,  life  companies,  1950q 

non-resident  property,  1955  (2e) 

sale  of  stock.  1897f 
Commissioner  of  insurance,  128,  170  (14),  1967 — 1972 

see  articles 

see  attorney  for  service  of  process 

see  commissioner 

see  license 

see  policies 

appointment,  1966y 

assessments,  notice,  fire  companies,  foreign  mutual.  1945i 

attorney,  appointment,  Lloyds'  marine  insurance.  19781 

ballots,  samples,  life  companies,  domestic  mutual,  19i7f 

capital  stock,  increase,  copies,  casualty  companies,  domestic,  1966 — • 
45 

capital  stock,  resolution  to  increase,  fire  companies,  domestic  stock, 
1908 

certificate,  guarantee  surplus  fund,  1909 

compensation  and  expense  paid  by  company,  1968 

compensation,  none,  re-insurance,  life  companies,  1955 — 25 

election,  result,  life  companies,  domestic  mutual,  19471 

future  estates,  form  of  submitting  for  valuation,  3981a 

hearing  on  petition,  re-insurance  life  companies,  1955—24 

impairment  of  capital,  casualty  companies,  domestic,  1966 — 46 

loss,  adjustment,  state  insurance  fund,  1978c 

notice  of  revocation  of  license,  1917 

petition,  re-insurance  life  companies,  1955 — 22 

printed  form  standard  fire  policy,  1941 — 42 

qualifications,  1966y 

real  estate,  time  to  dispose  of,  1902 

receiver,  casualty  companies,  domestic,  1966 — 46 

reduction  of  capital  stock,  consent,  1970 

salary.  170  (14) 

state  insurance  fund,  1978f — 5 

state  life  fund,  1989m 

statement  and  order,  re-insurance,  life  companies,  1955 — 25 

stock  dividend,  approval,  fire  companies,  domestic  stock,  1908a 

subpoena,  re-insurance  life  companies,  1955 — 24 

term,  1966y 

to  make  valuation,  1950  (6) 

underwriters,  list,  changes,  Lloyds'  marine  insurance,  1978h 

valuation,  fee  paid  into  state  treasury.  1950 

valuation,  policies,  life  companies,  1950 

valuation,  risks  for  state  insurance  fund,  1978b 
Commissioner,  additional  information, 

fire  companies,  1920  (6) 

life  companies.  ]953n 
Commissioner,  certificate, 

casualty  companies.  1966 — 33a 

fidelity  bond,  casualty  companies.  1966 — 34 

life  companies,  domestic,  1947  (3) 
Commissioner, 

examinations,  1969 

all  companieB,  1008 


229  COMMISSIONER  1*0  COltNTO.  C 

Commissioner — continued. 

foreign  companies,  1919c 

Lloyds'  marine  companies,  1978J 

mutual  benefit  societies,  1959 

mutual  benetit  societies,  foreign,  19r)9 
Committee  to  investigate,  see  investigation 
Committee  of  reference,  see  arbitrators 
Committee,  see  loss 
Common  carrier,  property  insured  by,  exempt  from  resident  agent's 

law,  1919a 
Companies, 

see  casualty  companies 

see  domestic  companies 

see  fire  companies 

see  foreign  companies 

see  life  companies 

see  marine  companies 

see  mutual  companies 

see  stock  companies 

discrimination  prohibited,  1913  1,  1955o 

general  laws;  see  insurance  companies,  1897d 

to  issue  agent's  license,  1976  (2) 
Company  defined,  1895m 

life  companies,  1946x 
Compensation  only  as  agreed  in  advance,  life  companies,  1950r 
Complaint  for  forfeiture,  3299 
Concealment,  standard  fire  policy,  1941 — 45 
Concealment  to  perpetrate  fraud  on  life  company,  4138e 
Conditions,  see  transacting  business 
Conditions,  place  of  bringing  actions,  1975 
Conditions  to  be  specified,  employees'  liability,  policy,  196G — 42 
Conditions,  waiver,  standard  fire  policy,  1941 — 62 
Confirmation,  state  fire  marshal,  1946g 

Consent  by  company  to  assignment,  standard  fire  policy,  1941 — 63 
Consent  of  person  effecting  insurance  to  assignment,  2347b 
Consolidation,  see  re-insurance 

Contempt,  proceedings  before  state  fire  marshal,  1946k 
Contents,  additional,  standard  fire  policy,  1941 — 64 
Contingency  reserve,  life  companies,  1952a 
Contingent  fund,  limitation,  city  and  village  mutuals,  1941 — 7 
Contingent  estates,  see  future  estates 
Contract  contrary  to  law,  binds  company,  standard  fire  policy,  1911-— 

65 
Contract,  other  than  policy  prohibited,  life  companies,  l955o 
Contract,  valid,  to  purchaser  of  stock,  1897f 
Contracts,  see  policies  mutual  benefit  society,  1958  (15) 
Contrary  provisions  ineffective,  disability  insurance,  1900  (3» 
Copies,  false,  penalty,  4182a 

Copies  from  books  of  insurance  companies,  4182a 
Copies,    reports   state  insurance   fund   filed   with   secretary   of   state, 

1978d 
Copies  served  on  attorney  before  used  as  evidence,  41S2a 
Corporate  stocks,  pledge  of,  investments  in,  1903 
Corporation,  domestic,  commissions  to,  1955  (2d) 
Corporations,  members,  mutual  companies,  1897g 
Corporators,  see  incorporators 

Costs,  casualty  company  fidelity  bond  chargeable  as,  1966 — 36 
Costs  of  insurance,  state  life  fund,  1989m  (3) 
County  buildings,  state  insurance  fund,  1978f — 5 

County  court,  commissioner  to  certify  value  of  future  estates,  1087 — 
15   (2) 


COUNTY  TO  DEPUTIES.  2^0 


County  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 38 

County  treasury*  forfeiture  paid  into,  3300 

Credit  guarantee  casualty  company,  powers,  1968 — 40 

Credit  guarantee  company,  see  casualty  company 

Credit  insurance  classification,  1897   (9) 

Credit  insurance,  separate,  1897a 

Creditors,  rights  in  policy  payable  to  married  woman,  2317 

Crops,  hail  insurance  companies,  foreign  may  insure,  1963—1 

Cumulative  vote,  domestic  mutual  life  companies,  1947c,  1917g 

Curative  provision,  see  validating  provision 

Cyclone  risk, 

fire  companies,  1945c 

town  mutuals,  1931 


Damages, 

cash  value,  limitation  below  prohibited,  1943a 

realty,  face  of  policy,  1943 

standard  fire  policy,  1941 — 60 
Death  of  insured, 

rebating,  life  companies,  1955o 

standard  fire  policy,  1941—46 
Death  of  married  Avoman,  policy  payable  to  children,  2347 
Death  of  nominee,  life  companies,  domestic  mutual,  1947e 
Deductions,  disability  insurance,  1960  (2c) 
Default  in  payment,  penalty,  town  mutuals,  1935 
Defendant  insurance  companies,  joinder,  2609a 
Defenses,  premium  notes  subject  to,  1944 
Deferred  dividends,  life  companies, 

ascertainment,  1952f 

diversion  prohibited,  1952g 

over  five  years  prohibited,  1952 

statement  to  commissioner,  1952h 

statement  to  policyholder,  form,  19521 
Definitions,  1903,  1908a,  1941—60,  1946x,  1956;  1966—44,  1977,  1978 

agents,  1977 

life  companies,   1946x 

mutual  benefit  societies,  1956 
Department, 

see  commerce  and  labor 

see  commissioner 

see  foreign  state 
Deposit, 

casualty  companies,  foreign,  1966 — 32 
Deposit  fee,  examinations,  1968 
Deposit,  funds  during  organization,  1897f 
Deposit,  fire  companies,  foreign,  1915  (4) 
Deposit,  in  another  state,  mutual  benefit  society.  19.58  (5) 

life  companies,  from  foreign  countries,  1950b 

mutual    benefit    societies,    foreign    accident    or    health,    1954     (4) 
1957  (5) 

certificate  of,  fire  companies  foreign,  1915  (6) 

defined,  life  companies,  1946x 

money  by  principal  on  fidelity  bond,  casualty  companies,  1966 — 37 

reserves  by  life  companies  from  foreign  countries,  1950 

retaliatory  laws,  1221 

withdrawal,  foreign  companies,  1918 

with  state  treasurer,  1973 
Deposition,  testimony,  1968f 
Depositors  guarantee,  1897   (9) 
Deputies  insolvency,  1970m 


23i  DEPUTY  TO  DISABILITY. 


Deputy  comraissioiier,  salary,  oath  and  bond,  170  (14),  1967a 

Deputy  lire  marshal,  appointment,  IDlGh 

Description,  see  application 

Direct  insurance,  re-insurance  excluded,  1219 

Directors, 

assisting  other  nomination  prohibited,  1947e 

attendance  at  meetings,  life  companies,  domestic  mutual,  1947k 

casualty  companies,  domestic,  19d6 — 40 

classitication,  tire  companies,  domestic,  1945f 

eligibilty,  life  companies,  domestic  mutual,  1947k 

liability,  domestic  companies,  18971 

life  companies,  domestic,  1947   (2),  1947c 

town  mutuals,  1928 

town  re-insurance  mutuals,  1941a — 3 
Directors,  liabilities, 

casualty  companies,  19G6— 44,  1968—46 

city  and  village  mutuals,  1941 — 10 

tire  companies,  domestic  mutual,  1945h 

town  mutuals,  1936 
Directors,    meetings,    when    held,    life    companies,    domestic    mutuals, 

1947k 
Directors,  nominations,  life  companies,'  domestic  mutuals,  1947e 
Directors,  number  chosen  each  election,  life  companies,  domestic  mu- 
tual, 1947c 
Directors,  misrepresentation,  life  companies,  1946f 
Directors,  powers,  town  mutuals,  193  <' 
Directors,  term, 

town  mutuals,  1929 
Directors,  vote  on  dividend,  casualty  companies,  domestic,  1966 — 45 
Disability  benefits,  mutual  benefit  society,  1858  (2) 
Disability  benefits,  assets,  mutual  benefit  society,  1959  (22) 
Disability  companies, 

application,  1950  (Id,  1) 

excepted,  expense  limitation,  1901J 

re-insui-ance,  hearing  notice,  1955 — 23 
Disability  policies,  forms,  filing,  1948f 

valuation,  1950d 
Disability  insurance,  classification,  1897  (4) 

cancellation  by  company,  1960  (Id,  8) 

concellatiou,  request  of  insured,  1960  (Id,  9) 
Disability  insurance,  contrary  provisions  ineffective,  1960  (3) 
Disability  insurance  deductions,  1960  (2,  c) 
Disability  insurance,  entire  contract,  policies,  1960  (ld,l) 

foreign  law,  provisions  required,  1960  (4) 

indorsement,  policies,  1960  (1) 

increase  of  hazard,  1960  (Id,  6) 

life  policies,  1960  (6) 

limitation  of  action,  1960  (2,  b) 

notice  to  office  or  agent,  1960  (Id,  4) 

notice  of  disability,  1960   (Id,  3) 
Disability  insurance,  other  insurance,  1980  (2,  d) 

payment,  1960  (Id,  7) 

penalty  provisions,  1960   (7) 

policy,  provisions,  1960  (1) 

proof  of  claim,  1960  (2,  a) 

provisions  prohibited,  1980  (2) 
Disability  insurance,  reinstatement,  1960  (Id,  5) 

representations,  I960  (Id,  2) 

type,  policies,  1960 

workmen's  collective  policy,  1960  (5) 


D  DISBURSE5MENTS  TO  DUPLICATE.  232 


Disbursements, 

fidelity  bond  chargeable  as  casualty  company,  1966 — 36 

political,  legislative,  1953,  1953e 
Discontinuance  of  business, 

after  revocation  by  commissioner,  1968 

life  companies,  1949 
Discrimination  prohibited,  1955o 

sale  of  stock,  1897f 

life  companies,  1955o 
Dissolution  mutuals,  1897k 
Distribution  of  surplus  by  life  companies,  1952 
District  attorney, 

to  be  furnished  evidence  by  state  fire  marshal,  1946j 

to  bring  action  for  forfeiture,  3300 
District  of  Columbia,  domestic  life  companies  may  loan  in,  1951 
Dividends, 

see  deferred  dividends 

see  surplus 

casualty  companies,  1966 — 44,  1966 — 45 

deferred,  mutual  benefit  society,  1957  (5m) 

tire  companies,  domestic,  i906a 

life  companies,  1952  to  19521 

annual,  life  companies,  1952a 

annual,  ascertainment,  life  companies,  1952b 

application,  life  companies,  1952c 

apportioned  fractional  policy  year,  life  companies,  1952c 

factors,  required,  life  companies,  1952c,  1954  (28) 

limitation,  casualty  companies,  1966 — 44 

limited  in  mutuals,  1897k 

outside  of  contract,  schedule  required,  1955o  (2f) 

rates,  fire  companies,  1908,  1906a 

report,  life  companies,  1954  (19) 

state  life  fund,  1989m  (9) 

statement,  form,  life  companies,  1952c 

statement  to  commissioner,  contents,  life  companies,  1952c 

statement  to  insured,  life  companies,  1952c 

stock,  fire  companies,  domestic  stock,  1908a 

unauthorized,  penalty,  fire  companies,   domestic  stock,  1906a 
Domestic  companies, 

see  casualty  companies 

see  fire  companies 

see  life  companies 

see  marine  companies 

articles,  amendments,  filing,  recording,  fees,  1772  (7) 

articles,  contents,  1772 

capital,  subscribed,  paid  in,  1773 

defined,  life  companies,  1946x  ^ 

examination,  first,  1897t 

investments,  1903,  1951 

organization,  1772,  1773,  1774  (Ch.  86),  1896 

repeal,  1941g 

special  surplus  fund,  1897s 

transacting  business,  conditions,  18971 

transacting  insurance,  examination,  certificate,  1897c 
Domestic  casualty  companies,  repeal,  by-laws,  1941g 
Domestic  fire  company, 

see  fire  companies,  domestic  mutual 

see  fire  companies,  domestic  stock 
Domesf.c  fire  and  marine  comlDanies,  repeal,  by-laws.  1041  g 
Druggists  and  hardware  dealers  mutuals,  repeal,  by-laws,  1941g 
Duplic;:t;'  ballot,  life  companies,  domestic  mutual,  1947f 


DUTIES  TO  EXEMPTION.  D 


I  mties,  commissioner,  insolvency,  1970m,  1970n 
J  duties,  state  fire  marslial,  19461 


Effect,  license,  1976  (5) 
Elections, 

see  ballots 

see  votes 

place,  life  companies,  domestic  mutual,  1947 

report  of  annual,  life  companies,  domestic  mutual,  1951  C-1) 

salaries,  life  Companies,  domestic  mutual,  1917r 

when  held,  life  companies,  domestic  mutual,  1917c 
Elevator  insurance,  classification,  1897  (13) 
Eligibility,  see  directors,  see  officers 
Employee  of  commissioner  to  accept  gratuities  1988 
Employees  of  department,  170  (14) 
Employees,  examinations,  1968 
Employees'    liability    policy,    prohibited   provision,    casualty   company, 

1986—42 
Endorsement,  standard  fire  policy.  1941 — 46 

Endowment,  pure  excepted,  annual  dividends,  life  companies,  19r)2b 
Entire  contract;  policies,  disability  insurance,  1960  (Id,  1) 
Estates,  see  future  estates 

Estoppel,  authority  to  execute  fidelity  bond,  casualty  companies,  1930 — ■ 
39 

company,  warranties,  4202s 
Evidence, 

certificate  of  assessment,  4182 

copies  from  books  of  insurance  companies,  41S2a 

documentary,  4182,  4182a 

inspection  of  books,  4183 
Evidence,  warranty,  4202m 
Examination, 

see  commissioner 

admission  of  companies,  1968 

books  of  commissioner,  1972c,  insured  under  standard  fire  policy, 
1941—55 

commissioner  of  insurance,  1968 

deposit  fee,  1988 

employees,  1988 

expense,  1938 

fire  companies,  1908.  1988 

fire  companies,  foreign.  1919c 

first,  domestic  companies.  1897t 

guaranty  surplus  fund.  1909 

increase  of  capital  stock,  1908 

license,  revocation,  1988 

Woyds'  marine  companies,  19781 

mutual  benefit  society.  1959   (24) 

on  request,  mutual  benefit  society,  1959   (28) 

state  treasury,  expense,  1968 

statements  during,  mutual  benefit  society.  1951)  (27) 
Examiner,  appointment,  salary.  170  (14)  1986a 
Exceptions,  mutual  benefit  society.  1958  (li) 
Exchanged  policies,  non-paj'ticipating  may  issue  for,  1947e 
Exchange  of  securities  on  deposit.  1973 
Execution   accompanied   by   certificate   of   assessment,    fire   comp.uii-s. 

domestic  mutuals,  1907 
Execution,  exemption,  insurance  moneys.  298*>  riO) 
Execution  exemption,  policy  payable  to  married  woman.  2:*>'7 
Exemption  from  general  law,  mutual  benefit  society,  1956  (9) 


B  EXPENSE  TO  FIDELITY.  234 


Expense  charge, 

commission  limited  to,  life  companies,  1950q 

defined,  1946x 

limitation,  1950m 

state  life  fund,  1989m   (4,  5) 

valuation,  1950  (3) 
Expense  provision  in  premium,  life  companies,  1950m 
Expenses, 

appraisers,  standard  fire  policy.  1941 — 56 

commissioner  at  convention,  1972a 

county  buildings,  state  insurance  fund.  1978f — 5 

examination  paid  by  company,  1955,  1968 

examination,  mutual  benefit  society,  1959  (24) 

insolvency,  1970m 

legislative,  statement,  1953e 

limitation,    mutual    companies,    mutual    benefit    societies,    1901j, 
1957  (11) 

political,  statement,  1953d 

publication,  limited,  1971 

re-insurance,  life  companies,  1955 — 25 

report,  life  companies,  1950n,  1954  (20) 

revocation  license,  mutual  benefit  societies,  1959  (29) 
Expenses,  limitation, 

life  companies,  1950o,  1050p,  1950q 

aggregate,  life  companies,  1950p 

first  year,  life  companies,  1950o 

state  life  fund,  1989m  (13) 
Explosion, 

see  risks.  1897  (1) 

damage  by,  standard  fire  policy,  1941 — 47 

fire  companies  may  write,  1897  (1),  1945c 
Explosives,  standard  fire  policy,  1941 — 46 
Extended  insurance,  policy  provision,  1948m  (4) 
Extension  of  time  by  commissioner  for  filing  report,  1971 
Extra  hazards,  state  life  fund,  19S9m  (4) 


Fallen  building,  standard  fire  policy,  1941 — 48 

February  1,  report  premium  fire  department  towns,  before,  1927m 

February  1,  surplus  line  report,  before,  1919m 

Federal  courts,  see  removal  of  causes 

Fee  for  valuation,  life  companies,  1950 

Fee,  organization,  domestic  life  companies,  1947  (3) 

Fees,  see  retaliatory  laws 

agents'  license,  1972 

filing  charter,  1972 

mutual  benefit  soicety,  1959  (30) 

service,  mutual  benefit  society,  1958  (17) 

state  life  fund,  1989m  (7,  13) 

testimony,  1968f 

verification  reserves,  life  policies,  1948f 

valuation,  1950a 
Fees  and  licenses,  report,  life  companies,  1950n,  1954  (32) 
Fees  payable  to  commissioner,  1972 
Fidelity  bond, 

acceptance  authorized.  1966 — 33 

certificate  of  authority,  1966 — 34 

commissioner  may  give,  cost,  1966 — 67 

deposit  of  money  by  principal,  1966 — 37 

estoppel  to  deny  authority,  1966 — 3S| 

q'ustice  court,  1966— 35a 


235  FIDELITY  TO  FIRE. 


Fidelity  bond — continued. 

official  cost,  196fi — 38 

omission  of  certificates,  1966 — 34 

premium,  chargeable  as  costs,  196G — 30 

release  of  casualty  company,  1906 — 35 

when  may  be  executed  by  casualty  company,  19C0 — 33 
Fidelity  insurance,  classification,  1897  (7) 
Filing,  see  commissioner 
Filing  by-laws,  insurance  companies,  1897d 
Filing  charter,  fees,  1972 

Filing  clerk,  commissioner  to  appoint,  lYO,  1967a 
Fine,  see  penalty 
Fines,  retaliatory  laws,  1221 
Fire  companies. 

see  city  and  village  mutuals 

Kee  fire  companies,  domestic 

see  fire  companies,  domestic  mutuals 

see  fire  companies,  domestic  stock 

see  fire  and  marine  companies,  domestic 

see  fire  companies,  foreign 

see  fire  companies,  foreign  mutuals 

see  Lloyds'  insurance 

see  re-insurance  companies  • 

see  state  insurance  fund 

see  town  mutuals 

agents,  resident  to  write  policies,  1919a 

domestic,  risks,  sprinkler  leakage,  explosion,  1915c 

fire  marshal  tax,  1946n  (3) 

license  fees  unauthorized  insurance,  1219m 

license  fees,  1219 

re-insurance,  1905a.  1919b 

report,  annual.  1920 

safety  clause,  see  guaranty  surplus  fund 

tax  for  fire  marshal,  1916n 
Fire  companies,  domestic, 

commissioner  may  enlarge  time  to  dispose  of  real  estate,  1902 

dividends,  1908a 

guaranty  surplus  fund,  1914 

real  estate,  when,  may  hold  or  dispose  of,  1902 

trading  powers,  1902 
Fire  companies,  domestic  mutual, 

directors  liable  for  illegal  business,  1945h 

risk,  cyclone,  1945c 
Fire  companies,  domestic  stock  and  mutual,  1895 — 190Sa 

charter  to  be  filed,  1915  (3) 

deposit,  1915  (4) 

examination,  1919c 

fees  on  deposit,  1915  (4) 

impairment  of  capital,  1915  (2),  1917 

investments,  bonds,  1915  (4) 

.ludgment.  non-payment  of,  1919d 

license,  expiration  of,  1916 

license  fee,  1915  (7),  1917 

license,  revocation,  1919e 

penalties,  1919e 

penalty,  commissioner's  inquiry,  1920 

neglect  of  to  file  annual  report,  1920 

re-insurance,  1918 

removal  of  causes,  1915  (2),  1917 

report  of  re-insurance,  19]  9d 

revocation  of  license,  1S|17 


F  FIRE  TO  FIRE.  236 

Fire  companies,  domestic  stock  and  mutual — continued. 

service  on,  1919 

retaliatory  laws,  1221 

statement  of  financial  condition,  1915  (3) 
Fire  companies,  domestic  stock, 

capital  stock,  increase  of,  1908 

commissioner,  certificate  for  guaranty  surplus  fund,  1909 

commissioner  to  approve  stock  dividend,  1908a 

commissioner  to  have  copy  of  resolution  to  increase  stock,  1908 

dividends,  1906 

dividends,  unauthorized,  penalty,  1906a 

guaranty  surplus  fund,  1909 

notice  of  increase  of  capital  stock,  1908 

scrip  dividends,  1906a 

stock  dividend,  permitted  when,  1908a 

stockholders,  consent  to  stock  dividend,  1908a 

stockholders,  consent  three-fourths,  1908 

stockholders  liable  for  unlawful  dividend,  1906 

surplus  required  for  dividend,  1906a 

surplus,  rule  for  estimating,  1910 
Fire  companies,  foreign,  1915 — 1919c 

assessment,  action  limited,  1945b 

admission,  1915 

agents'  license  fee,  1972 

application,  attached  to  policy,  1945a 

annual  report,  1915  (5) 

attorney,  appointment  of,  1915  (2) 

capital  stock,  1915   (1) 

certificate  of  authority,  1915   (6) 

certificate  of  deposit,  1915  (6) 
Fire  companies,  foreign  mutual 

assessments,  increase,  notice  to  commissioner,  1945 
Fire  department, 

bond  by  agent  to  pay  duty,  1926 

dues,  1926m 

duties,  1926 

Milwaukee,  report,  1946 

premiums,  statement  required,  1926 

what  sufficient,  1926 
Fire  department  chiefs,  fees  for  reporting  fires,  1946q 
Fire  insurance  companies, 

see  fire  companies,  domestic 

see  fire  companies,  foreign 
Fire  and  marine  companies,  license  fees,  1219 
Fire  insurance,  see  investigation 

classification,  1897  (1) 

general  provisions,  1942 — 1946 
Fire  marshal,  see  state  fire  marshal      "^ 
Fire  patrol, 

assessment  of  expense,  1925 

board  of  underwriters  may  establish,  1923 

duties,  1923 

expenses,  how  fixed,  maximum,  1924 

notice  of  annual  meeting,  1924 

premiums,  statement,  1925 
Fire,  risk, 

fire  companies,  1897  (1) 

life  companies,  domestic,  1951 

Lloyds'  marine  insurance,  1978f 

standard  fire  policy,  1941 — 43 

^tat?  insurai^ce  fund,  197$fe 


237  FIRES  TO  FUTURE.  P 

Fires,  fee  for  reporting  to  state  fire  marshal,  1946q 

Fires,  state  fire  marshal  and  municipal  oflicers  to  investigate,  19461 

First  meeting,  see  meeting 

First  payment,  Lloyds'  marine  insurance,  lUTSg 

First  year  business,  separate  exhibit,  life  companies,  1953n 

Finet  year  expense  provision  limited,  fife  companies,  1950m 

First  year  expenses,  limitation,  life  companies,  1950o 

First  year  expenses,  report,  life  companies,  1950n 

Fiscal  year,  articles,  life  companies,  domestic,  1947   (2) 

Foreclosure,  standard  fire  policy,  1941 — 40 

Foreign  companies, 

see  casualty  companies 

see  fire  companies 

see  life  companies 

see  marine  companies 
Foreign  companies,  defined,  1946x 
Foreign  companies,  limitation  of  assessment,  1945b 
Foreign  country  deposit  of  reserves,  life  companies,  1950 
Foreign  examination,  mutual  benefit  society,  1959  (25) 
Foreign  fire  company,  judgment,  non-payment,  1919d 
Foreign  state,  department  of,  valuation  accepted,  1950  (4) 
Foreign  insurance  company,  service  of  process,  2637  (9) 
Foreign  law,  provisions  required,  disability  insurance,  1960  (4) 
Forfeiture  3299,  3300 

actions,  conditions,  1975 

agents'  license,  1976   (4) 

failure  to  file  annual  report,  life  companies,  1954 

judgment  unpaid,  doing  business,  1974 

of  charter,  fire  companies,  1943a 

Milwaukee  agents,  1946 

not  fifing  by-laws,  1897d 

unlawful  dividend,  1906,  1906a 

unlawful  dividend,  casualty  company,  1966 — 44 

waiver  of,  none,  standard  fire  policy,  1941 — 57 

writing  policies  after  discontinuance,  1949 
Formal  part,  standard  fire  policy,  1941 — 43 
Forms, 

see  articles 

see  ballot 

see  dividend 

see  license 

see  report 

see  standard  fire  policy 

see  statement 

see  undertaking 

state  life  fund,  1989m  (6) 
Fractional  policy  year,  dividend  apportioned,  life  companies,  1952b 
Fractional  vote  not  recognized,  life  companies,  domestic  mutuals,  1947g 
Fraternal  associations,  orders  or  societies,  see  mutual  benefit  societies. 
Fraternal  benefit  society,  defined,  1956  (1) 
Fraud  in  becoming  member  of  mutual  benefit  society,  4575e 
Fraud  on  life  companies,  absconding,  4438e 
Fraud,  standard  fire  policy,  1941 — 45 
Friendly  societies,  see  mutual  benefit  societies 
Funds,  deposit  during  organization,  1897f 
Funds,  how  invested,  domestic  companies,  1903 
Funeral  benefits,  insurance  companies,  1978x 
Future  estates,  valuation,  1087—13  (2),  1087—15  (2),  3871a 


G  GAIN  TO  INCORPORATION.  ^38 


Gain  and  loss  exhibit  required,  life  companies,  1953n 
General  agents,  commissioner's  report,  life  companies,  1954  (25) 
General  clerk,  commissioner,  appointment,  salary,  1967a,  170 
Governor, 

annual  report  by  state  fire  marshal,  1946p 

approval,  bond  of  commissioner,  1967 

commissioner  to  report  receipts  to,  1972c 

member  of  commission,  re-insurance,  life  companies,  1955 — 24 

report  of  commissioner  to,  1972b 

to  appoint  state  fire  marshal,  1946g 
Gratuities  to  commissioner  prohibited,  penalty,  1968 
Guaranty  surplus  and  special  reserve  funds,  1909 — 1914 
Guaranty  surplus  fund, 

applies  to  all  domestic  and  marine  companies,  1914 

assessment  on  stockholder,  1912 

discharge  of  liability,  1912 

dividends,  rule  for,  1910 

tire  companies,  domestic,  1914 

tire  companies,  domestic  stock,  1909 

investment,  1911 
^    restoration  of  capital,  1913 

transfer  of  securities,  1912 

use  of  reserve  in  extensive  conflagration,  1912 


Hail  companies,  policies  to  be  separate,  1897a   (4) 
Hail  and  cyclone  mutuals,  repeal,  by-laws,  1941g 
Hail  companies,  foreign,  1966 — 1 

admission,  conditions,  1966 — 1 

attorney  for  service  of  process,  1966 — 1 

commissioner  to  have  statement  of,  1966 — 1 

crops,  risk  of,  1966 — 1 

license,  expiration,  fee,  1916 
Hail  mutual  companies,  see  cyclone  companies 
Hail,  risk,  fire  companies  may  assume,  1945c 
Health  and  Accident  company, 

see  disability  company 
Health  companies,  re-insurance,  see  re-insurance,  life  companies 
Health  insurance,  see  disability  insurance 
Health  insurance  deposit  in  other  state,  mutual  benefit  societies,  1955a 

(4) 
Health  insurance  permitted,  life  companies,  1947a 
Hearing,  on  application  for  admission,  1915  (8) 

Hearing,  commissioner  to  fix,  re-insurance,  life  companies,  1955 — 23 
Hearing,  examination,  mutual  benefit  society,  1959  (27) 
Hearing,  revocation  license,  mutual  benefit  societies,  1959  (28) 
Home  office,  first  year  expense,  report,  life  companies,  1950n 
Home  oflSce,"  limitation,  mutual  benefit  society,  1957  (10) 
Home  office  limitation  value,  1902 
Hurricanes,  see  cyclones 
Hurricane,  risk, 

fire  companies  may  assume,  1945c 
Husband,  married  woman  may  insure,  2347 
Husband  may  insure  for  benefit  of  wife,  2347 


Illuminating  gas,  standard  fire  policy,  1941 — 46 
Immunity  to  witness  testifying,  life  companies,  1955e 
Impairment,  see  capital  stock 

see  reserve 
Incorporation,  see  organization 


239  INCORPORATORS  TO  INSURANCE. 


lucarporators,  liability  domestic  companies,  1897 
iucoi'porators,  number,  insurance  companies,  1896 
Increase, 

see  capital  stock 
Increase  oi  capital  stock,  1774m 
Increase  of  fees,  see  retaliatory  laws. 
Increase  of  hazard,  avoids  standard  life  policy,  1941 — 46 
increase  of  hazard,  disability  insurance,  1960  (Id,  6) 
Indemnity,  credit,  casualty  companies,  1966" — 40 
independent     nominations,     lists     life     companies,     domestic     mutual 

1947d 
Index: — organization,  other  provisions,  1772  (7) 
Indorsement,  policies,  disability  insurance,  1960  (1) 
Indorsements,  forms,  standard  fire  policy,  1941 — 63 
Industrial  business,  separate  exhibit,  life  companies,  1953n 
industrial  insurance,  excepted 

annual  dividends,  life  companies,  1952b 

expense  limitation,  life  companies,  1950t 

limitation  of  loading,  life  companies,  1950m 

policy  provisions,  1948m 
Industrial  insurance,  valuation,  1950d 

Information  to  members,  1914,  mutual  benefit  society,  1959  (22) 
Informer,  one-half  forfeiture  paid  to,  3300 
Injunction,  insolvency  of  corporation,  3218,  3219 
Inquiries,  commissioner,  of  companies  and  officers,  1968 
Insolvency, 

casualty  companies,  domestic,  1966 — 46 

circuit  court,  1970n 

deputies,  1970m 

duties,  commissioner,  1970m,  1970n 

expenses,  1970n 

injunction  on,  3218 

liquidation,  1970m 

order  to  show  cause,  1970m 

possession  taken,  1970n 

promotors,  1970m 

receivership,  1970m 

report,  1970m 

rules,  1970m 

voids  premium  note,  1945 
Inspection  of  risks,  report,  life  companios,  1950n 
Inspectors  of  elections,  how  appointed,  l"J47e 
Insurance,  see  risks 

Insurance  by  married  woman,  2347,  2347b 
Insurance  commissioner,  see  commissioner 
Insurance  companies, 

see  casualty  companies, 
companies 
domestic  companies 
fire  companies 
foreign  companies 
life  companies 
marine  companies 
mutual  companies 
stock  companies 

articles,  approval,  filing,  recording,  1896 

by-laws,  filing,  forfeiture,  1897d 

domestic  mutual,  license  fees,  exceptions,  1219  (2) 

incorporators  number,  1896 

classification,  1897 

investments,  1903 


t  Insurance  to  investments.  ^40 

Insurance    companies — -continued. 

risks  permitted  in  one  company,  1897a  (2) 

organization,  1896,  1897 

policies  to  be  separate,  1897a  (3) 

purposes,  1897 

re-insurance  deducted  to  ascertain  maximum  rislv,  1898 

risli,  maximum  single,  1898 

rislvs,  minimum  outstanding,  1898d 
Insurance  companies  may  re-insure,  1905 
Insurance  corporation,  defined,  1978 
Insurance  corporation,  service  of  process  on,  2637 
Insurance  in  force,  statutes  as  to  married  woman  applicable  to,  2347 
Insurance  laws,  penalty  for  violation,  1955o — 5 
Insured, 

defined,  life  companies,  1946x 

defined,  standard  fire  policy,  1941 — 60 

dividend  statement,  life  companies,  1952c 

duties,  standard  fire  policy,  1941—55 

exemption,  moneys  due  from  mutual  benefit  society,  2982 — 19 

gain  and  loss  exhibit  on  request,  life  companies,  1952d 

inspection  of  schedule,  1943b 

liability  for  fire  department  dues,  1926 

unauthorized  insurance,  license  fees,  report,  payment,  1219m 
Insurer,  burning  property  to  injure,  4405 
Insurers  to  comply  with  law,  1978 

Insurrection,  excepted  risk,  standard  fire  policy,  1941 — 47 
Interest  assumption,  mutual  benefit  society,  1959  (22) 
Interest  assumption,  state  life  fund,  1989m  (4,  5) 
Interest  basis, 

annuities,  1950d  . 

disability  policies,  1950d  ^  I 

industrial  insurance,  1950d  '   1 

life  policies,  1950c 
Interest,  change  in,  avoids  standard  fire  policy,  1941 — 40 
Interest,  maximum,  4  per  cent,  ass^^^ssment  life  policies,  1955y — 1 
Interest,  rate,  deferred  dividends,  life  companies,  1952c 
Interest,  rate  in  valuation  of  future  estates  by  commissioner,  1087 — 13 

(2) 
Interest  rate,  valuation,  life  policies,  1950c 
Interest  and  rents,  report  life  companies,  1954  (16) 
Interest    defaulted   not   included   in   dividends,    fire   companies,    1903, 

1906a 
Interest   on   deferred   dividend,    diversion   prohibited,   life   companies, 

1952g 
Interest  on  policy  loans,  report,  life  companies,  1954  (30) 
Interest  savings,  report,  life  companies,  1950n 
Inter-insurance  exempt  from  resident  agents'  law,  1919a 
Inter-insurers,  admission,  1915  (1) 

Inventory,  insured  to  make,  standard  fire  policy,  1941 — 55 
Investigation,  fire  insurance,  Jt.  Res.  130a,  following  4575e 
Investigations,  private,  state  fire  marshal,  1946k 
Investment,  expenses  report,  life  companies,  1950n 
Investments,  see  securities 

domestic  companies,  1903 

fire  companies,  foreign,  1915  (4) 

mutual  benefit  societies,  1957  (10) 

single,  limitation,  1903 

state  life  fund,  1989m  (2) 

trading  powers,  real  estate,  1902 


24i  JANUARY  TO  LICENSE. 


January  1,  exceptions,  mutual  benefit  society,  1952  (22) 

Joinder  of  insurance  companies  as  defendants,  2609a 

Joint  life  and  accident  or  health  policies,  life  companies,  1897,  1917a 

Joint  policy,  standard  fire  policy,  1941 — 64 

Judgment  for  forfeiture,  3299 

Judgment,  non-payment,  1974 

Judgment,  payment,  1919e 

July  1,  county  buildings,  state  insurance  fund,  1978f — 5 

July  12,  1907,  after,  mutual  benefit  societies,  1958  (2) 

June  10,  county  buildings,  state  insurance  fund,  1978f — 5 

Justice  court,  casualty  company,  fidelity  bond,  19a6 — 33a 

Justification,  casualty  company,  certificate  equal  to,  1966 — 34 


Lapse,  benefits  on,  mutual  benefit  society,  1858  (2) 

Lapsed  policies,  loans,  report  life  companies,  1954  (31) 

Laws,  see  table  preceding  index 

Legal  representatives,  standard  fire  policy,  1941 — 60 

Legislative  committee,  see  investigation 

Legislative  expenditures,  report,  life  companies,  1954  (23) 

Legislative  expenditures,  statement  required,  life  companies,  1953e 

Liability, 

see  directors 

see  incorporators 
Liability  insurance,  classification,  1897  (5) 
Liability  insurance,  property,  1897   (5) 
Liability,  limitation,  see  members 
Labilities  exceeding  assets,  life  companies,  1954  (23) 
License,  1947  (5),  1948,  1949 

see  certificate 

agent,  surplus  lines,  1919m 

agents,  fees,  1972 

agents,  1976 
License,  certified  copy,  mutual  benefit  society,  1958  (15) 

commissions,  division,  1976   (5) 

efieect,  1976   (5) 

fire  companies,  foreign,  1915  (6)     . 

life  companies,  1948 

life  companies,  domestic,  1947  (3),  1947  (5) 

Lloyds'  marine  insurance,  1978  1,  1978m 

mutual  benefit  society,  1958  (15) 

not  granted  for  one  year,  misrepresentation,  1946c 

renewal,  when  prohibited,  life  companies,  domestic,  1947  (5) 

retaliatory  laws,  1221 
License,  agent 

exception,  1976 

revocation,  risk  in  unauthorized  company,  1919f,  1945e 

revocation,  violation  of  law,  1972a 

rights  of  stockholders  and  policyholders,  life  companies,  lS47p 
License,  special,  old  members,  1958  (3) 
License,  special,  separate  funds,  1958  (3) 
License  clerk,  commissioner  of  insurance  to  appoint,  1967a 
License  clerk,  salary,  170 
License  expires  January  31, 

fire  companies,  foreign,  1916 

marine  companies,  foreign,  1916 

mutual  hail  companies,  foreign,  1916 
License  expires  February  1,  Lloyds*  marine  insurance,  1978 — 1 
16— L  L. 


h  LICENSE  TO  LIFE.  242 

License  expires  March  1 

foreign  accident  companies,  1916 

life  companies,  1916 
License  fees,  1219—1222 

casualty  companies,  1219e 

city  and  village  mutuals,  1219 

lire  and  marine  companies,  1219 

tire  companies,  foreign,  1915  (7),  1917 

life  companies,  domestic,  1220,  1947 — 5 

life  companies,  foreign,  1220 

Lloyds'  marine  insurance,  1978J 

paid  to  state  treasurer  by  commissioner,  1972o 

report,  life  companies,  1954   (33) 
'    retaliatory  laws,  1221 

unauthorized  insurance,  fire  companies,  1219m 
License  fees,  exceptions, 

domestic  mutuals,  1219  (2) 
License,  revocation, 

co-insurance,  1943a 

discrimination,  1955o 

examinations,  1968 

fire  companies,  foreign,  1917,  1919a 

foreign  companies,  1968,  1972a 

life  companies,  1947  (5),  1955 

Lloyds'  marine  insurance,  1978m 

mutual  benefit  societies,  1958  (15),  1959  (28),  1959  (29) 

premium  notes,  1944 
Life  companies 

see  life  companies,  domestic 

see  life  companies,  domestic  mutuals 

see  life  companies,   foreign 

see  mutual  benefit  societies 

see  re-insurance  companies 

see  re-insurance  life  companies 

absconding  to  perpetrate  fraud  on,  4438e 

accident  insurance  permitted,  1947a 

actuary  appointed  by  commissioner,  1950 

actuary  assistant  appointed-  by  commissioner,  1950 

additional  commission  prohibited,  1950s 

advances  to  agents,  limited  to  expense  charge,  1950q 

advances  to  agents,  report  of,  1950n 

advertising,  report  of,  1950n 

advisory  board  prohibited,  1955o 

agents,  compensation  only  as  agreed,  1950r 

agent's  license,  fees  to  commissioner  for,  1972 

agent's  license  revoked  when,  1955 

agent,  misrepresentation  by,  1946f 

agents  on  organization,  special  certificates,  1947  (3) 

agency  supervision,  expense,  1954  (25) 

agency  supervision,  first  year  expense,  jeport  of,  1950n 

annual  dividends,  rate  of,  1954  (28) 

annuity,  value  of,  when  charged,  1950 

American  experience  table  of  mortality,  1950 

amount  at  risk,  defined,  1946x 

application,  contents,  1947  (3) 

application,  policyholder  may  request  copy,  1953b 

ascertainment  of  deferred  dividends,  1952f 

ascertainment  of  dividends  annually,  1952b 

assessment,  1955 — 21 

assessment,  not  admitted,  exception,  1955y — 1 

assessment,  reorganization,  1955y — 2 

assessment,  valuation  of  policies,  1948,  1950,  1955y — 1,  1955y — 2 

assets  not  Qq.uaX  to  Uabilities,  1949 


24$,  Llt^E  COMPANIES.  L 

Life   companies — continued, 
beneficiary,  defined,  1940x. 
bonuses  prohibited,  lUoOs 
bank  balances,  1954  (20) 

calendar  year,  expenses  limited,  1950o,  1050p,  1950q 
capital,  impairment  of,  1955 
capital  stock,  1954  (4) 
cash,  1954  (8) 

certificates,  value  how  computed,  1948 
claims. resisted,  1954  (27) 

commerce  and  labor,  valuation  by  department  of,  1950 
commission,  limited  to  expense  charge,  1950ci 
commission  on  loans,  1954  (2) 
commissions,  general  agents,  1954  (25) 
company,  defined,  194t)X 

compensation  only  as  agreed  in  advance,  1950r 
concealment  to  perpetrate  fraud  on,  4438e 
contingency  reserve,  1952a 
contract,  other  than  policy  prohibited,  1955o 
death  of  insured,  no  evidence  of  rebating  after,  1955o 
deferred  dividend  and  surplus,  1952a 
deferred  dividends,  ascertainment  of  for  policy  holder  on  request. 

1952f 
deferred  dividends,  diversion  prohibited,  1952g 
deferred  dividends,  policies  excepted,  annual  dividends,  1952b 
deferred  dividends  prohibited,  1952 
deferred  dividends,  statement,  contents,  1952h 
deferred  didivends,  statement  to  policyholder,  19521 
definitions,  1946x 
deposit,  defined,  1946x 

deposit  by  life  companies  of  foreign  countries.  1950 
discontinuance  of  business,  1949 
director  of,  misrepresentation  by,  1946f 
discrimination  prohibited,  1955o 
distribution  of  surplus,  1952 
diversion  of  deferred  dividend  prohibited,  1952g 
dividends,  annual,  1952a 

dividends,  apporrionod,  fractional  policy  year,  1952e 
dividends,  deferred,  prohibited,  1952 
dividends,  factors  required,  1952c 
dividends,  hovr  applied,  1952c 
dividends  report,  annual,  1952c,  1954   (19) 
dividends,  statement  to  insured,  1952d 
domestic  company,  defined,  1946x 
election,  result,  1954  (24) 

endowment,  pure  excepted,  annual  dividend,  1952b 
expenditures,  legislative,  statement  required,  1953e 
expense  charge,  defined,  1946x 
expenses,  aggregate,  limitation,  1950p 
expenses,  first  year,  limitation,  1950o 
expenses,  report,  1954  (20) 
expenses,  provision  for  limited,  1950m 
expenses,  report  of  first  year,  total,  1950n 
factors,  dividend,  annual  report,  1952c,  1954   (28) 
fees  and  licenses,  report,  1950n 
fees  for  valuation,  1950 

fees,  examination  and  valuation,  report,  1954  (32) 
first  year  business,  separate  exhibit,  1953n 
first  year  expenses,  limitation,  1950m 
first  year  expenses,  report,  1950u 
foreign  country,  deposit  of  reserves,  1950 


L  LIFE  C0Mt>ANlE5S.  244 

Life   companies — continued. 

forfeiture,  failure  to  file  annual  report,  1954 
forfeiture,  writing  policies  after  discontinuance,  1949 
form  of  dividend  statement,  1952d 
form  of  report,  expenses,  1950n 

form  of  statement  to  deferred  dividend  policyholder,  19521 
fractional  policy  year,  dividend  apportioned,  1952c 
fraud  on,  absconding,  concealment,  4438e 
gain  and  loss  exhibit  required,  1953n 
gain  and  loss  exhibit  sent  insured  on  request,  1952d 
general  agents  commission,  annual  report,  1954   (25) 
health  insurance  permitted,  1947a 
home  office,  first  year  expense,  report,  1950n 
immunity  to  witness  testifying,  1955o 
industrial  business,  separate  exhibit,  1953n 
industrial  excepted,  annual  dividends,  1952h 
industrial  excepted,  limitation  of  loading,  1950m 
industrial  excepted,  expense  limitation,  1950t 
interest  on  policy  loans,  1954  (30) 
interest  and  rent,  1954  (16) 
investment  expenses,  report  of,  1950n 
inspection  of  risks,  report  of,  1950n 
insured,  defined,  1946x 
insured  to  have  dividend  statement,  1952d 
interest  element  in  mortality  charge,  1946x 
interest  on  dividend,  diversion  prohibited,  1952g 
interest,  deferred  dividend  accumulation,  1952c 
interest  savings,  report,  1950n 
joint  life  and  accident  or  health  policies,  1947a 
lapsed  policies,  loans  on,  report,  1954  (21) 
legislative  expenditures,  report,  1954    (23) 
legislative  expenditures,  statement  required,  1953e 
liabilities  exceeding  assets,  1949 
license  fee,  amount,  1220 
license  fee,  annual  report,  1954  (33) 

license,    none    until    rights    of   stockholder   and   policyholc^ers    re- 
ported, 1947p 
license  not  to  issue  to  corporation  as  agent,  1955x — 1 
license,  revocation,  1955 
license  revoked  for  discrimination,  1955o 
license,  when  issued,  1948 
limitation  of  first  year's  expense,  1950o 
limitation  of  provision  for  expense  in  premium,  1950m 
loading  expense  charge,  1946x 
loading,  limitation  of,  1950m 
loans,  1954  (7) 

losses  outstanding,  1954   (13)       ^ 
medical  examination,  1950n 
misrepresentation,  1946f 
mortality  charge,  defined,  1946x 
mortality  savings,  report,  1950n 
mortality  tablte,  element  in  mortality  charge,  1946x 
mortality,  table  used,  1950 
mortgage  loans,  annual  report,  1954  (6) 
mortgage  loans,  Wisconsin,  annual  report,  1954  (35) 
mutual  benefit  society  excepted  in  definition  of  company,  1946x 
net  premium  in  excess  of  actual  premium,  1950 
net  value,  how  computed,  1950 
non-participating,  separate  exhibit,  1953n 
notice  of  renewal  of  license,  1955 
officer,  misrepresentation,  1946f 


245  LIFE  COMrANIES. 

Life   companies — continued. 

ordinary  business,  separate  exhibit.  1053n 

participatinji:  business,  separate  exhibit,  1953n 

penalty,  discrimination,  1055o 

penalty,  fraud  on,  absconding,  4438e 

personal  insurance,  1947a 

policies,  disability  insurance,  1900  (6) 

policies,  forms,  filing,  1948f 

policies,  valuation,  1948 

policies,  writing  after  discontinuance,  1949 

policyholder  may  request  statement,  deferred  dividend,  19r»2i 

policyholder  in  stock  life  companies,  rights  in  surplus.  1917p 

policyholder  to  have  copy  application  on  request,  1953b 

policy,  defined,  1946x 

policy  aniversary,  defined.  1946x 

policy  loans,  Wisconsin,  1954  (34) 

policy  provisions,  1948m 

policy  to  express  entire  contract,  1955o 

policy  year,  defined,  1946x 

political  contribution,  statement,  1953d 

paid  up  insurance  excepted,  annual  dividends,  1952b 

premium,  defined,  1946x 

premium  notes,  report.  1954  (9) 

premiums,  annual  report,  1954  (15) 

premiums,  limitation  of  expense  charge,  1950m 

privilege  of  witness.  1955o 

prizes  prohibited.  1950s 

•real  estate,  annual  report,  1954  (5) 

rebating  prohibited,  1955o 

rebating,  evidence  barred  after  def\th  of  insured,  1955o 

re-insurance,  1955 — 21 

reorganization  of  assessment,  report,  1953n,  1955y — 2 

report,  annual,  1954 

report,  deferred  dividend  apportionment,  1952h 

report,  first  year  expenses.  1950n 

report,  rights  of  stockholders  and  policyholders  in  surplus,  1947p 

reserve,  defined,  1946x 

reserve  funds  held,  annual  report.  1954  (29) 

reserve,  how  computed  to  determine  surplus.  1952 

reserve  liability,  1950 

salaries  over  $3,000.00.  report.  1954  (25) 

services,  when  contract  for  prohibited,  1955o 

service  of  demand  for  forms.  1955o 

special  guaranty  fund.  1947  (3) 

statement  required  of  surplus  and  apportionmont.  1952c 

stock,  excepted  from  expense  limitation  when,  1950t 

stock,  when  sale  of  prohibited.  1955o 

sum  insured,  defined,  1940x 

surplus  funds  held,  1954  (29) 

surplus.  1952 

surplus,  rights  of  stockholders  and  policyholders  in,  1917p 

surplus,  unapportioned,  1952a 

taxes,  report  of.  1950n 

term  of  corporation.  1954  (H) 

terminal  reserve,  defined.  194r)X 

three  years,  no  license  issued  foi",  1955o 

unapportioned  surplus,  1952a 

valuation  fee,  1950 

valuation  of  assessment,  policies.  1955y — 1,  1955y — 2 

valuation  of  policies,  basis,  method.  1950 

valuation  of  other  state,  accepted  when,  195Q 


L  LIFE  COMPANIES.  246 

Life   companies — continued. 

waiver  of  defense,  failure  to  furnish  copy  of  application,  1953b 

witness,  immunity  to,  19.55o 
Life  companies,  domestic,  1947 — 1947a 

see  life  companies 

amendments  to  articles,  1947  (4) 

articles,  contents,  1947  (2) 

attorney  to  continue  on  revocation  of  license,  when,  1947  (5) 

banking  business  not  to  be  done,  1951 

capital  stock  required,  1947   (8) 

certificate  by  commissioner,  organization,  1947  (3) 

commissioner  to  file  articles,  1947  (4) 

commissioner  to  file  certificate,  organization,  1947  (3) 

directors,  election,  vacancies,  terms,  articles,  1947  (2) 

District  of  Columbia,  may  loan  in,  1951 

fee  on  organization,  1947  (3) 

filing  articles,  1947   (4) 

fiscal  year,  articles,  1947  (2) 

insurance,  minimum,  on  organization,  1947  (3) 

investments,  1951 

license  fee,  1947  (5) 

license  not  renewed  for  three  years,  when,  1947   (5) 

meeting,  first,  1947  (4) 

members,  minimum  on  organization,  1947  (3) 

mortgages  on  real  estate,  investments  in,  1951 

municipal  bonds,  investments  in,  1951 

mutuals,  1947   (1)  .  • 

notice  of  first  meeting,  1947  (4) 

organization  of,  1947 

other  states,  loans,  1951 

pledge  of  bonds,  loans  on,  1951 

policies,  loan  on,  1951 

premium,  first  required,  1947  (3) 

railway  mortgage  bonds,  investments  in.  19.51 

renewal  of  license,  prohibited  when,  1947  (5) 

removal  of  causes,  1947  (5) 

retaliatory  laws,  1221 

revocation  of  license.  1947  (5) 

risks,  minimum,  1947  (3) 

state  bonds,  investments  in,  1951 

stock,  1947  (1) 

territories,  loans  in,  1951 

United  States  bonds,  investments  in.  1951 
Life  companies,  domestic  mutual,  1947c — 1947k 

see  life  companies 

acceptance  of  nominations  required,  1947e 

assignment  of  policy,  how  made,  1947c 

attendance  of  directors  at  meeting,  1947k 

ballot,  duplicate  furnished  when,  1947f 

ballot,  form  of,  1947g 

ballot  mailing  no  waiver,  1 947.1 

ballot,  name  inserted  when,  1947e 

ballots,  tampering  with,  19471 

candidate  for  director,  nomination,  acceptance,  1947e 

canvass  Of  votes,  19471 

certificate  of  inspectors  of  result,  19411 

cumulative  voting,  1947c,  1947g 

director  ineligible  after  forfeiture,  1947k 

directors'  meetings,  when  held,  1947k 

death  of  nominee,  1947e 

director  assigning  other  nomination,  penalty,  1947e 


247  LIFE  COMPANIES. 


Life  Companies,  domestic  mutual — eontiiuied. 

director,  election  of.  1947c 

directors,  number  chosen  each  election,  1047c 

directors  to  appoint  inspectors.  1947e 

directors  to  nominate  candidates,  1947e 

duplicate  ballot,  when,  1947f 

elections,  how  often  held,  1947c 

elections,  place  of,  1947h 

excessive  number  votes,  1947ff 

failure  to  attend  meetings,  1947k 

form  of  ballot,  1947.2: 

fractional  vote  not  recognized.  1947g 

independent  nominations.  1947d 

inspectors  of  elections,  how  appointed,  1947e 

lists  of  policyholders.  1947d 

mailing  of  ballot.  19t7g 

meetings  of  directors,  when  held,  19471v 

nomination  by  directors.  194r7e 

nomination  by  policyholders.  1947e 

nominee  entitled  to  be  present  at  canvass,  19471 

nomination  for  directors,  1947e 

officer  assisting  other  nominations,  penalty,  1947e 

officers,  qualifications,  1947c 

other  papiers  not  inclosed  with  ballot,  1947f 

other  question,  ballot  for,  1947f 

person,  vote  in,  1947g 

place  of  elections,  1947h 

policyholders'  list,  1947d 

policy  number,  one  specified  on  ballot.  I947g 

policyholder  to  have  ballot,  when,  1917f 

policyholder,  who  is.  1947c 

polls,  onen  when,  1947h 

resignation  of  nominee.  1947e 

salaries,  vote,  not'ce.  1947r 

separate  ballot,  other  question,  1947f 

terms,  who  elected  to  longest,  19471 

tie,  inspectors  to  decide  by  lot.  19471 

vacancy  filled  only  until  next  election.  1947c 

vacancy  in  nomination,  how  filled.  1947e 

vacation  of  office  by  director.  1947k 

validity  of  policy  not  admitted  by  mailing  ballot,  1947j 

vote,  who  entitled  to.  1947c 

votes,  number  to  each  policyholder,  1947g 

witness  required  on  ballot,  1947g 
Life  companies,  foreign, 

see  life  companies 

admission,  1953 

attorney,  appointment.  1953 

charter,  copy  of  filed  before  doing  business,  1953 

license,  expiration  of,  1916 

license  fee,  1220 

process,  service  made  upon  attorney.  1953 

statement  filed  before  doing  business,  1953 
Life  companies  from  foreign  countries, 

valuation,  1950b 

deposit,  1950b 
Life  estates,  see  future  estates 
Life  insurance,  classification,  1897  (3) 
I^ightning 

^ee  risks,  1897  (1) 


LIGHTNING  TO  LOADING.  248 


Lightning?,  risk 

fire  companies,  1945c 

standard  fire  policy,  1941 — 47 
Lightning,  what  included  by,  standard  fire  policy,  1941 — 47 
Limitation, 

sec-  expenses 

see  investments 

see  risk 

liability  risks,  territory,  mntnal  companies,  1897c 

policy  fee,  city  and  village  mutuals,  3  911 — 7m 
Limitation  of  action,  s'^e  action 
Limitation  of  action,  disability  insurance,  19G0  (2b) 
Limitation  of  actions.  1900 
Limitation  of  liabiility, 

see  directors 

see  members 
Limitation,  time  for  notice  of  injury,  casualty  companies,  19(16 — 49a 
Limitation  of  dividends,  1906,  1906a 

Limitation  of  expense,  casualty  company,  fidelity  bond.  196G — 38 
Limitation,  expense,  mutual  benefit  society,  1957   (11) 
Limitation,  increase,  capital  stock,  1774n 

Limitation  of  liability  of  underwriters,  Lloyds'  marine  insurance,  1978k 
Limitation,  mutual  benefit  society,  home  office,  1957  (10) 
Limitation  of  premium,  casualty  company,  fidelity  bond,  1966 — 36 
Limitation  of  surplus,  domestic  fire  mutuals,  1942 — 1 
Limited  mutual,  in  name.  1897b 
Liquidation,  insolvency,  1970m 

Lists  of  policyholders,  life  companies,  domestic  mutual,  1947d 
Literature,  filed,  sale  of  stock,  1897f 
Literature,  misleading,  1943a,  1946b,   1946d 
Live  stock  companies, 

see  casualty  companies 
Live  stock  insurance,  classification  1897  (14) 
Lloyds'  nsurance, 

agent,  resident,  1945g 

attorney,  resident,  19i5g' 

manufacturing  plants,  1945g 

office,  location,  1945g 

stock,  1945g 
Lloyds'  marine  insurance,  1978f  to  1978m 

see  marine  companies 

attorney  for  service  of  process,  19781 

attorney  to  transact  business,  1978g 

expiration  of  license,  1978 — 1 

examination,  1978.i 

fire  risk,  may  assume,  1978f 

first  payment,  1978g 

license  fee,  amount  and  payment,  r07S.i 

license,  revocation,  1978m 

license  to  by  commissioner.  1978  1 

limitation  of  liability  of  underwriters,  1978k 

members,  minimum.  1978f 

marine  risk,  may  assume,  1978f 

office  in  state,  1978h 

reserve  fund,  1978g 

risks,  may  assume  marine  and  fire,  1978f 

service  on  attorney,  19781 

underwriters,  liability,  1978k 

under^Vriters,  list  of  furnished  commissioner,  1978h 
Loading,  life  companies,  1946x 
Loading,  limitation,  life  companies,  1950m 


249  LOANS  TO  MEETING. 


Loans,  life  companies,  report,  1954  (7) 

Loans,  state  lite  fund,  lySDm  (10) 

Local  agent,  re-insurunce  not  to  be  signed  by,  lOlDg 

Local  board  of  underwriters,  may  make  rates,  iy43b 

Lodge  system,  defined,  1956  (2) 

Loss,  see  certificate 

Loss,  adjustment  and  payment,  state  insurance  fund,  1978c 

Loss,  defined,  standard  lire  policy,  1941 — 00 

Loss  during  default,  town  mutuals,  1935 

Loss,  loan  to  pay,  town  mutuals,  1935 

Loss,  realty,  face  of  policy,  1943 

Loss,  standard  tire  policy,  1941 — 55 

Loss,  arbitrators, 

town  mutuals,  1934 
Losses,  adjustment,  state  life  fund,  1989m  (12) 
Losses  outstanding,  life  companies,  1954   (13) 
Losses,  when  paid 

standard  tire  policy,  1941 — 57 

state  insurance  fund,  1978c 
Lumber  dealers'  mutuals,  repeal,  by-laws,  1941g 


Magistrate's  certificate,  1945d 

Mailing  clerk,  commissioner  to  appoint,  1967a 

Mailing  of  ballot,  life  companies,  domestic  mutuals,  1947g 

Mailing  registered  notice  sufllcient,  casualty  companies,  19(50 — 49a 

Management,  state  life  fund,  1989m 

Manufacturing  establishment,  operation,  standard  fire  policy,  1941-  10 

Manufacturing  plants,  Lloyds  'insurance,  1945g 

March  1,  report  by  insured  of  unauthorized  insurance,  1219m 

Marine  companies, 

see  fire  and  marine  companies,  domestic 

see  Lloyds'  marine  insurance 

see  marine  companies,  domestic 

see  re-insurance  companies 

annual  report,  1920 

license  fee,  1219 
Marine  companies,  foreign,  retaliatory  laws.  1221 
Marine  insurance, 

see  fire  and  marine  companies  "^ 

see  Lloyds'  insurance 

see  Lloyds'  marine  insurance 

classification,  1897  (2) 
Marine  risks,  Lloyds'  marine  insurance,  1978f 
Marine  risks,  prohibited,  life  companies,  domestic,  1951 
Market,  value,  stocks  and  bonds,  investment,  1903 
Married  woman,  insurance  payable  to  exempt,  2982 — 19 
May  1,  domestic  societies  considered  fraternal,  1956  (1) 
May  1,  payments  by  state  to  fire  department  towns,  1926m 
Mayor,  fee  for  reporting  fire  to  state  fire  marshal,  1946q 
Mayor,  to  investigate  fires  under  direction  of  state  fire  marshal,  1940i 
McClintock's  mortality  tables,  valuation,  annuities,  1950d 
Mechanics,  employment,  standard  fire  policy,  1941 — 46 
Medical  examination,  life  companies,  1950n 

mutual  benefit  society,  1957  (3) 
Medical  examination  on  organization,  mutual  benefit  societies,  1955a  (1) 
Medical  examination,  state  life  fund,  1989m  (7,  13) 
Meeting,  annual, 

city  and  village  mutuals,  1941 — 2 

fire  companies,  domestic  mutuals,  1942 — 1 

town  mutuals,  1928,  1929 


M  Meetings  to  muo^iiaL.  ^50 

Meetings,  directors, 

absence,  IDiTk 

when  held,  life  companies,  domestic  mutuals,  1917k 
Meeting,  first,  domestic  corporations,  1773 

life  companies,  domestic,  1947  (4) 
Member,  each  one  vote,  when  in  town  mutuals,  1928 
Members, 

corporations,  mutual  companies,  1897g 

during  organization,  mutual  companies,  1897c 

town  re-insurance  mutuals,  1941a — 2,  1941a — 4 
Members,  information  to,  nlutual  benefit  society,  1959  (22) 
Members,  insurance  exempt,  mutual  benefit  societies,  2982 — 19 
Members,  minimum, 

domestic  companies,  18971 

life  companies,  domestic,  1947  (3) 

Lloyds'  marine  insurance,  1978f 

mutual  benefit  societies,  1958 
Members  of  mutual  benefit  society,  fraud  in  becoming,  4575e 
Members,  old,  fraternal  societies,  1958  (8) 
Members,  who  are, 

city  and  village  mutuals,  1941 — 7 

town  mutuals,  1933,  1939 
Membership,  mutual  benefit  society,  1957  (3) 
Messenger,  commissioner  to  appoint,  1967a 
Method,  accumulation,  reserves,  1948m  (1) 
Military  power,  excepted  risk,  standard  fire  policy,  1941 — 47 
Millers'  and  Manufacturers'  mutuals,  repeal,  by-laws,  1911g 
Milwaukee  agents,  1948 
Minimum  risks  outstanding, 

see  risks,  minimum  outstanding- 
Minor,  insurance  on  exempt  from  execution  when,  2982 — 19 
Misrepresentation,  1946a — 19i6f 

life  companies,  1946f 

standard  fire  policy,  1941 — 45 

warrant,  4202m,  4202s  , 

Modified  preliminary  term, 

see  valuation 
Mortality  charge,  defined,  life  companies,  194Gx 
Mortality  savings,  report,  life  companies,  1950n 
Mortality  table  for  calculating  future  estates,  3871a 
Mortality  table,  mutual  benefit  society,  1858  (2),  1959  (22) 
Mortality  table,  state  life  fund,  1989m  (4,  5) 
Mortality  table,  valuation  life  policies,  1950,  1950c 
Mortgagee,  notice  of  assessment  by  city  and  village  mutual,  1941 — 9 
Mortgagee,  rights,  standard  fire  policy,  1941 — 53 
Mortgage  loans,  life  companies,  report,  1954  (6) 
Mortgage  loans,   Wisconsin,  report,  life  companies,  1951    (35) 
Mortgages  on  real  estate,  investments,  1903 

life  companies,  domestic,  1951 
Municipal  bonds,  investments,  1903 

Municipal  bonds,  investments,  life  companies,  domestic,  :^951 
Municipality  to  pay  expense  of  casualty  company  fidelity  bond,  1963 

—38 
Mutual  and  stock  policies, 

see  participating  and  non-participating  policies 
Mutual  beneficiary  association,  see  mutual  benefit  societies 
Mutual  benefit  societies,  1956 — 1959 

accident,  1958.(4),  1956  (5) 

accident  insurance,  see  disability,  1957  (3) 

accident  associations,  deposit,  1958  (4) 

accident  business,  deposit  in  other  states,  1958  (5) 


f  251  MUTUAL  BENEFIT  SOCIETIES.  U 

r 

Mutual  benefit  societies — continued. 

action,  see  attorney  for  service  of  process,  1958  (17) 

action,  see  process,  11)58  (17) 

additional  information  to  commissioner,  11)50  (G) 

admission  of  foreign,  11)58  (10) 

age  limits,  1957  (S) 

agent  acting  for  unlicensed,  4575c 

agents  of,  excepted,  1977 

agent  acting  for  unauthorized,  4575d 

application  of  laws  to,  when,  1950  (9) 

annual  report,  1959  (23) 

appointment,  attorney  service  of  process,  1958  (16),  (17) 

April  1,  expiration  of  license,  1958  (15) 

articles,  amendment,  notice,  1955b — 5 

articles,  tiling,  1958  (16) 

assessment  defined,  1955  (10) 

assets,  disability  benefits,  1959  (22) 

assets,  single  risk  not  to  exceed  one-tenth,  1955a — 1 

attorney  for  service  of  process,  1958   (17) 

beneficiary,  who  may  be,  1957  (5) 

benefits  on  lapse,  1858  (2) 

by-laws,  filing,  1958  (16) 

certificates,  see  policies,  1958  (15)  ' 

change  of  beneficiary,  1957  (5) 

consent  of  beneficiary  not  required  to  change,  1957  (5) 

contracts,  see  policies,  1958  (15) 

definitions,  1895m,  1956 

deferred  dividend,  1957  (5m) 

disability  benefits,  1957  (3),  1958  (2) 

disability  benefits,  assets,  1959  (22) 

examination   of,    by   commissioner   on   request,    1955i,    1959    (24), 

1959  (26) 
examination,  statements  during,  1959  (27) 
exceptions,  1956  (14) 

executions,  moneys  due  members  in,  exejnpt  from,  2982 — 19 
expenses,  examination,  1959  (24) 
expense  of  examination,  how  paid,  19551 
expenses,  revocation  license,  1959  (29) 
fees,  1959  (30) 
fees,  service,  1955  (17) 
foreign  admission,  1958  (16) 
foreign  examination,  1959  (25) 
fraud  in  becoming  member,  4575e 
foreign,  service  of  process,  2637  (11) 
general  laws  exempt  from,  1956  (9) 
hearing,  examination,  1959  (27) 
hearing,  revocation  license,  1959  (28) 
information  to  members  in  1914,  1959  (22) 
insured,  moneys  due  to,  exempt  when,  2982 — 19 
interest  assumption,  1959  (22) 
investments,  1957  (10) 
January  1,  1911,  exceptions,  1959  (22) 
lapse,  benefits  on,  1858  (2) 
license,  1958  (15) 
license,  certified  copy,  1958  (15) 
license,  revocation,  1958  (15),  1959  (28),  1959  (29) 
limitation,  expenses,  1957   (11) 

married  woman,  insurance  payable  to,  exempt,  when,  2982 — 19 
medical  examination,  1957  (3) 
members,  information  to,  1959  (22) 
members,  insurance  exempt,  2982 — 19 


M  MUTUAL  BENEFIT  SOCIETIES.  252 

Mutual  benefit  societies — continued. 

members,  fraud  in  becoming,  4575e 

membership,  1957  (3) 

minor,  insurance  on  life  of,  exempt  from  execution,  2982 — 19 

mortality  tables,  1858  (2),  1959  (22) 

name,  1958  (15) 

National  Fraternal  Congress  Table,  1959  (22) 

new  members,  commission,  195lj 

order  of  commissioner,  see  review  of  orders,  1959  (28) 

order,  revocation  of  license,  1959  (28) 

organization,  1858  (1),  1956  (10) 

penalty,  agent  acting  for  unlicensed,  4575e 

penalty,  agent  for  unauthorized,  4575d  .   . 

penalty,  fraud  in  becoming  member  of,  4575e 

policy,  filing  copy,  1958  (16) 

policy  provisions,  1858  (2) 

policies,  existing  continued,  without  license,  1958  (15) 

process,  service,  1958  (17) 

rates,  1858  (2) 

real  estate  taxable,  1959  (30) 

removal  of  cause,  1958  (16) 

report,  annual,  while  policies  in  force,  1958  (16)  ^ 

reserves,  1958  (2) 

review  of  orders,  revocation  of  license,  1959  (28) 

revocation,  see  license 

risk,  single,  limited  to  one-tenth  assets,  1955a — 1 

savings  on  mortality,  1957  (11) 

special  assessments,  see  taxes,  1959   (30) 

statements  during  examination,  1959  (27) 

taxation  exemption,  1959   (30) 

three  years,  examination,  1959  (24) 

unauthorized,  agent  acting  for,  4575d 

United  States  courts,  see  removal  of  cause,  1958   (16) 

unlicensed,  agent  acting  for,  4575c 

valuation,  1959  (22) 

valuation  1912,  December  31,  1959  (22) 

violation  of  law,  1959  (29) 

vote,  proxy,  mail,  195^  (3) 
Mutual  companies,  " 

see  city  and  village  mutuals 

see  fire  companies,  domestic  mutual 

see  fire  companies,  foreign  mutual 

see  insurance  companies 

see  life  companies,  domestic  mutual 

see  mutual  benefit  societies 

applications  for  insurance,  lS97e 

articles,  1897c 

borrowing  money,  1897g  (4) 

corporations  may  be  members,  1897g 

expenses,  limitation,  1901  j 

liabilities  limited,  1897b 

limitation,  risk,  territory,  liability,  lS97c 

limited  mutual  in  name,  lS97b 

members,  corporations,  lS97g 

membership  during  organization,  1897e 

mutual  in  name,  1897b 

name,  1897b 

risks,  classification,  1901m 

risks,  policies,  1897a 

suri)lus  safeguarded,  1897k 


MUTUAL  TO  OCCUPANTS.  M 


INTiitiial  fire  companies. 

policies,  term,  "1901  n 

agents  excepted,  1077 
Mutual  policies,  see  policies,  partlcipatinj 

Mutual,  word  in  name,  lS07b 

standard  fire  policy,  1942 


Name, 

change  of,  notice,  publication,  1774 
mutual  companies,  lS97b 

mutual  benefit  societies,  1955f,  1955n,  1958  (15) 
stock  companies,  1897b 
town  mutuals,  1927 
National  convention  of  commissioners,  1972a 
National  Fraternal  Conc^ress,  mutual  benefit  societies,  1858  (2) 
National  Fraternal  Conj?ress  Table,  mutual  benefit  societies,  19.59  (22) 
Ne.2:lect  of  insured,  excepted  risk,  standard  fire  policy,  1941 — 47 
Net  premium  in  excess  actual  premium,  life  companies,  1950 
Net  value,  how  computed,  life  companies,  1950 
Nomination,  see  directors 

Nominee  present  at  canvass,  life  companies,  domestic  mutual,  19471 
Non-payment  of  jud.Grment,  suspension  of  business,  1974 
Non-participatin.c:  annuities  permitted,  1947o 
Non-participatin.2:  policies,  see  policies 
Non-participating:  policies,  when  prohibited,  1947o 
Non-particinating,   separate,   gain    and    loss,    exhibit,    life  companies. 

1953n 
Non-residents, 
see  directors 
see  members 
Non-resident  property,  commissions.  195.5o  (2e1 
Northampton  table  of  mortality  for  future  estates.  3871a 
Notice  from  municipal  officer  to  state  fire  marshal,  19461 
Notice  of  application  for  admission,  1915  (8) 
Notice  of  adding:  territory,  town  mutuals,  1940 
Notice  of  assessment,  town  mutuals,  1935 
Notice  of  cancellation,  standard  fire  policy.  1941 — 52 
Notice  of  disability,  disability  insurance,  1900  (Id.  3) 
Notice  of  first  meeting:,  domestic  life  companies.  1947  (-♦) 
Notice  of  injury,  casualty  companies,  1966 — 49a 
Notice  of  loss, 

standard  fire  policy.  1941—44,  1941—55  • 
town  mutuals,  1934 
Notice  of  renewal  of  license,  life  companies,  1955 
Notice  of  revocation  of  license,  1917 

Notice  of  revocation  of  license,  by  commissioner,  publication.  1968 
Notice  of  violation  of  law.  commissioner  to  g:ive.  1972a 
Notice  of  A'ote  on  salary,  life  companies,  domestic,  1947r 
Notice,  orders,  1970.i 

Notice  to  ag:ent.  standard  fire  policy.  1941 — 6*? 
Notice  to  commissioner,  misrepresentation,  1946c 
Notice  to  oflSce  or  ag:ent.  disability  insurance.  1960  (Id.  4) 
Notice  to  policyholders,  re-insurance,  life  companies.  19.5.5 — 23 
November  1,  list,  fire  department  towns  by  commissioner,  1026m 


Oath  of  commissioner,  1967 

Oaths,  secretary  may  administer,  town  mutuals.  1934 
Oaths,  state  fire  marshal  may  administer,  1946k 
Occupants,  change  of,  standard  fire  policy,  1941 — 40 


OCTOBER  TO   OWNER.  254 


October  1,  list  fire  department  towns  by  state  department,  1927m 
Office  location, 

Lloyds'  insurance,  1945g 

Lloyds'  marine  insurance, .  1978h 
Office  of  commissioner  in  capitol,  1966 — 67 
Office  of  state  fire  marshal,  location,  1946g 
Officers, 

department  of  insurance,  170  (14) 

duties,  state  life  fund,  1989m  (6) 

life  companies,  domestic  mutual,  1947c 

state,  acceptance  of  compensation,  penalty,  4594g 

town  mutuals,  1929 
Officers  assisting  other  nomination  prohibited,  life  companies,  domestic 

mutual,  1947e 
Officers,  fee  for  reporting  fires,  state  fire  marshal,  1946q 
Officers'  fees,  service  at  request  of  state  fire  marshal,  1946n 
Officers,  misrepresentation,  life  companies,  1946f 
Officers,  penalty  for  neglect  to  comply  with  law,  state  fire  marshal. 

1946m 
Omission  of  certificate,  fidelity  bond,  1966—34 
Operation  of  law,  loss  by  excepted,  standard  fire  policy,  1941 — 49 
Option  of  company,  repair,  standard  fire  policy.  1941 — 44 
Option,  county  board,  state  insurance  fund,  1978f — 5 
Order  approving  re-insurance,  unanimous,  life  companies,  1955 — 21 
Order  of  commissioner  on  reserve,  prima  facie  just,  1899 
Order  of  commissioner,  re-insurance,  life  companies,  1955 — 25 
Order  of  commissioner,  see  review  of  orders,  mutual  benefit  societies 
Order,  revocation  license,  mutual  benefit  societies,  1959  (28) 
Order  to  show  cause,  insolvency,  1970m 
Order  to   repair  or  remove,   dangerous  premises,   state  fire   marshal, 

1946—1 
Orders, 

circuit  review,  1970J 

exceptions,  review,  1970j 

hearings,  review,  1970j 

notice,  1970j 

review,  1970.i 

service,  1970.1 
Ordinary  business,  separate  exhibit,  life  companies,  1953n 
Organization, 

amendment  of  articles,  1774n 

articles,  filing,  fee,  recording,  fee,  1772   (7) 

defined,  mutual  benefit  society,  1956  (10) 

first  meeting,  1772  (7) 

insurance  companies,  1896,  1897 

life  companies,  domestic,  1947 

members  during,  mutual  companies,  lS97e 

mutual  benefit  societies,  1858  (1)  ' 

other  insurance,  disability  insurance,  1960   (2d) 

temporary  control,  first  meeting,  1773 

town  mutuals,  1927 

town  re-insurance  mutuals,  1941 — 1 
Other  business,  state  fire  marshal  not  to  engage  in,  1946o 
Other  casualty  insurance,  classification,  1897  (15) 
Other  conditions,  retaliatory  laws,  1221 
Other  conditions,  standard  fire  policy,  1941 — 60 

Other  insurance,  standard  fire  policy,  1941—46,  1941—47,  1941—58 
Other  papers  not  inclosed  with  ballot,  life  companies,  domestic  mutual, 

1947f 
Other  question,  ballot  for,  liffi  compa^iies,  domestic  wutua},  1947f 
Qwwer.  see  insured 


255  OWNERSHIP  TO  POLICIES. 


Ownership  of  ground,  Rtnndard  firo  policy,  1041 — 40 
Ownership  of  risk,  standard  fire  policy,  1941 — 46 


Paid  up  insurance  excepted,  annual  dividends,  life  companies.  1052b 

Paid  up  insurance,  policy  provision.  1048m   (4) 

Participatinj?  business,  separate  exhibit,  1953n 

Participating  polices,  see  policies 

Parties, 

see  action 

see  fire  department  dues 

see  forfeiture 
Patent,  see  certificate 
Penalties,  fire  company,  foreisrn.  101  Oe 
Penalties,  retaliatory  laws,  1221 
Penalty,  see  license 

acceptins:  gift.  4540flr 

agent  acting  for  unlicensed  mutual  benefit  society,  457r)C 

agent  acting  without  license.  107B 

agent  for  unauthorized,  mutual  benefit  societies,  4575d 

burning  to  injure  insurer.  4*05 

commissioner  accepting  gratuities,  loas 

contemnt  before  state  fire  marshal.  1046k 

discrimination,  life  companies.  19"'>-"'>o 

failure  to  report,  life  companies.  10.53n 

false  statement.  oflScer.  life  company.  1^5Hn 

fraud  in  becoming  member  of  muti^nl  benefit  society,  4r)7r)e 

fraud  on  life  company  absconding,  4438e 

misrepresentation,  1046c 

nesrlect  of  foreign  fire  company  to  file  annual  report.  1020 

neglect  of  foreign  fire  companv  to  reply  to  commissioner's  inquiry, 
1020 

neglect  to  complv  with  order  to  repair  or  remove,  state  fire  mar- 
shal, 1046—1 

officer  or  emnloyee  of  state  accepting  comneusation,  4.")40g 

placing  rick  in  unauthonVed  company.  101  Of 

policy  provisions,  disability  insurance,  1060   (7) 

standard  fire  policy.  1041 — 65 

surplus  lines,  1019m 

violation  insurance  laws.  10.55o — 5 

violation  of  law,  re-insurance  life  companies,  1055 — 26 

violation,  sale  of  stock.  l.S07f 
Personal  property,  see  powers 

Personal  property  of  insurance  companies  exempt  from  taxation.  1038 
Petroleum,  standard  fire  policy.  1041 — 46 
Phosphorus,  standard  fire  policy.  1041 — 46 
Physician's  certificate,  warranties.  420*28 
Plate  glass  insurance,  classification.  1807  (11) 
Plate  glass  mutuals.  repeal,  by-laws.  1041g 
Pledge  of  bonds,  investments,  life  companies,  domestic,  1051 
Pledge  of  stock,  investments,  1903 
Policies. 

action  on,  joinder  of  insurance  companies.  2609a 

assignment  by  married  woman.  2347b 

cash  value  measure  of  loss,  1943a 

co-insurance  clause,  1943a 

contents,  mutual  or  stock.  1942 

contents,  time  for  notice  of  injury.  1966 — 49a 

existintr  continued   without  license,   mutual   benefit   society.   195^ 
(15) 

lumea  by  hom^  ofl^c^,  r^fiii4eiit  agents'  law  pot  to  apply,  19X9a 


P  POLICIES  TO  PREMIUM.  256 

Policies — continued. 

loan  on,  life  companies,  domestic,  1951 

participating?  and  non-participatinj?,  1047o 

state  life  fund,  1989m  (3,  5,  7,  9,  11,  14.  16) 

to  indicate  whether  mutual  or  stock,  1912 

valuation,  life  companies,  194S,  1950 

writing?  after  discontinuance,  life  companies,  1949 
Policies,  contents, 

mutual  companies,  1897c 

hail,  separate,  1897a 

separate  risks,  1897a 

term,  mutual  fire  companies,  1901n 

town  mutuals,  1932 
Policy,  approval,  town  mutuals,  1932 
Policy  conditions,   risks,   minimum,    maximum,   single,   state  life  fund, 

1989m   (14) 
Policy,  defined,  life  companies,  1946x 
Policy,  filing  copy,  mutual  benefit  society.  1958  (16) 
Policy,  forms,  life  and  disability,  filing,  1948f 
Policy  not  to  specify  where  actions  brought,  1975o 
Policy  to  contain  name  on  first  page.  1942 
Policy,  to  express  entire  contract,  life  companies,  1955o 
Policy,  to  specify  time  for  notice  of  injury,  casualty  companies,  19(56 

—49a 
Policy  anniversary,  defined,  life  companies,  1946x 
Policy  fee.  city  and  village  mutuals,  1941 — 7m 
Policyholder, 

ballot,  domestic  mutual  life  companies,  1947f 

copy  application  on  request,  life  companies,  1953b 

may  request  statement  deferred  dividend,  life  companies,  1952i 

notice,  re-insurance,  life  companies,  1955 — 23 

rights  in  surplus,  stock  life  companies.  1847p 

who  is,  life  companies,  domestic  mutual,  1947c 
Policyholders,  credits  to.  assessment  life  insurance,  1955y — 1 
Policyholders'  hsts,  domestic  mutual  life  companies,  1947d 
Policy  loans,  Wisconsin,  life  companies.  1954  (34) 
Policy  number,  one  specified  on  ballot,  life  companies,  domestic  mutual, 

1947g 
Policy  provisions,  1900 

benefits  equivalents,  1948m   (4) 

disability  insurance,  1960  (1) 

extended  insurance,  1948m  (4) 

interest  rate.  1948m  (1) 

mortality  table,  1948m  (1) 

mutual  benefit  societies,  1858    (2) 

paid  up  insurance,  1948m  (4) 

premium  loan,  automatic,  1948m  (3) 

premium,  separate,  1948m   (2)       "" 

premium,  separate,  application  may  state,  1948  (2) 

reserve  method,  1948m  (1) 

term  insurance  excepted,  1948m  (4) 
Policy,  warranty  in,  4202m 
Policy  year,  defined,  life  companies.  1946x 
Political  contributions,  statement,  life  companiies,  1953d 
Polls,  life  companies,  domestic  mutual,  1947h 
Possession  taken,  insolvency,  1970n 
Preliminary  term,  see  valuation 
Premises,  view  by  state  fire  marshal.  1946k,  19461 
Premium,  cash  first,  life  companies,  domestic,  1947  (3) 
Premium  credits  to  state  insurance  fund,  1978b 


257  PREMIUMS  TO  RATES.  P 

Premium, 

advance,  state  life  fund,  lOSOm  (7) 

annual,  basis  of  limitation  of  liability,  1897c 

deficient,  valuation,  1950  (2) 

defined,  life  companies,  1946x 

expense  provision  and  limitation,  1950m  to  1950t 

limitation  of  loading,  life  companies,  1950m 

on  fidelity   bond  casualty   company  chargeable   as   disbursement, 
195^—38 

return,  standard  fire  policy,  1911 — 52 

separately  stated,  policy  provision,  194Sm   (2) 

standard  fire  policy,  1941—43,  19i3a 

tax  on  for  state  fire  marshal,  1943n 
Premium  notes,  1944,  1945, 

life  companies,  1954  (15) 

report  to  show,  fire  companies,  1920 

void  by  insolvency,  1945 

wording,  1944 
Premiums,  life  policies,  1948f 

Premiums,  reserve  liability  not  less  than  50  per  cent.,  casualty  com- 
panies domestic,  1966 — 46 
Premiums,  state  life  fund,  1989m  (3,  4,  5) 
President,  see  officers 

Prima  facie  evidence,  misrepresentation,  1946c 
Printed  form,  standard  fire  policy,  1941 — 64 
Privilege  of  witness,  life  companies,  1955o 
Prizes  prohibited,  life  companies,  1950s 
Process,  see  service 
Process,  service  of 

attorney,  fire  companies,  1919 

attorney,  life  companies,  foreign,  1953 

hail  insurance  companies,  foreign,  1936 — 1 

insurance  corporation,  2887  (9).   (10), (11) 

mutual  benefit  societies,  1958  (17) 
Promoters,  insolvency,  1970m 
Promotion  expense,  limitation,  lS97f 
Proof  of  claim,  disability  insurance,  1960  (2a) 
Proof  of  loss,  standard  fire  policy.  19 tl — 44,  1011 — 55 
Property,  liability  insurance,  1897   (5) 
Proportionate  liability,  standard  fire  policy,  1941 — 54 
Provisions  prohibited,  disability  insurance,  1960  (2) 
Proxy,  see  vote 

Proxies,  existing  invalidated,  1760m 
Proxies  for  stock,  1760 
Publication  annual  report,  life  companies,  1954 

names  of  companies  by  commissioner,  1971 

notice,  application  for  admission,  1915  (8) 

notice  of  change  of  names,  1774 

notice  of  revocation  of  license  by  commissioner,  1968 

order  for  hearing,  re-insurance,  life  companies,  1955 — 23 
Public  buildings,  insured  only  by  state  insurance  fund,  1978a 
Purposes,  insurance  companies,  1897 

state  life  fund,  1989m  (1) 

Qualifications,  see  directors,  eligibility 
Qualifications,  commissioner  of  insurance,  1966y 

Railway  mortgage  bonds,  investments,  life  companies,  domestic,  1951 
Rates,  combination  prohibited,  fire  or  marine  companies,  1943b 
17—1.  I.. 


R  RATES  TO  RP^INSURANCE.  258 

Rates,  mutual  benefit  societies,  new,  1858  (2) 
Railroad,  rolling  stock  and  property  in  transit,  1919a 
Real  estate, 

see  powers 

see  valued  policy 

fire  companies,  domestic,  1902 

marine  companies,  domestic,  1902 

report,  life  companies,  1954  (5) 

sale  extension,  renewal,  1902  * 

taxable,  mutual  benefit  society,  1959  (30) 
'  Realty  insurance,  valued  policy,  1943 
Rebating,  see  discrimination,  1943  1,  1955o 
Rebating,  all  insurance,  1955o 
Rebating,   evidence   excluded   after   death   of  insured,   life   companies, 

19550 
Receipt  to  contain  name  on  first  page,  1942 
Receiver, 

action  on  assessment,  foreign  companies,  1945b 

insolvent  companies,  3219 

re-insurance,  casualty  companies,  1933 — 48 
Receiver  may  re-insure,  casualty  companies,  domestic,  1966 — 48 
Receiver  of  accident  mutual  benefit  societies  to  have  securities,  1958  (4) 
Receiver,  powers  of,  3219 
Receivers  to  make  reports,  1921 
Receivership,  insoh^ency,  1970m 

Recording,  see  articles  recorded  with  register  of  deeds 
Record  of  fires,  state  fire  marshal,  19461 
Record  of  prosecutions  for  arson,  state  fire  marshal,  1946.1 
Records,  town  mutuals,  1929 
Records  of  valuation,  1950  (8) 
Referees,  see  arbitrators 

Referees  to  adjust  losses,  town  miltuals,  1934 
Reference  in  subsequent  law,  1219  (2)  1958  (9) 
Refund,  state  life  fund,  1989m  (9) 

Registered  mail,  notice  hj  sufiicient,  casualty  companies,  1966 — 49a 
Registered  mail,  service  of  demand  by,  life  companies,  1955o 
Reinstatement,  disability  insurance,  1960  (Id,  5) 
Hegistered  mail,  notice  by  sufiicient,  casualty  companies,  1963 — 49a 
Registered  mail,  service  of  demand  by,  life  companies,  1955o 
Re-insurance,  1914a,  1919d  to  1919g,a955— 21,  1955—28 
Re-insurance  company,  to  pay  tax,  when,  1219 
Re-insurance, 

deducted  to  ascertain  maximum  risk,  1898 

disability  company,  notice  hearing,  1955 — 23m 

domestic  life  and  casualty  companies,  1955 — 21  to  1955 — 26 

fire  companies,  1919b 

fire  or  marine  companies,  1918        ^ 

life  companies,  1955 — 21 

town  mutuals,  1931a 

town  re-insurance  mutuals,  1941a — 1  to  1941a — 4 
Re-insurance  agreement,  standard  fire  policy,  1941 — 58 
Re-insurance  authorized,  fire  insurance  companies,  1905a 
Re-insurance  by  receiver,  domestic  casualty  corhpanies,  1966 — 48 
Re-insurance  companies,  1914a 

admission,  1914a 

fees  and  taxes,  1914a 

organization,  1914a 
Re-insurance,  need  not  be  approved  by  local  agent,  1919g 
Re-insurance,  petition  to  commissioner,  life  companies,  1955 — 22  ' 

Re-insurance,  report  by  foreign  fire  companies,  1919d 
Re-insurance,  withdrawal  of  deposit  by  foreign  company,  1918 


259  REINSURANCE  TO  REPORT.  R 

Re-insurance  life  companies^ 

approval  by  commissioner,  1955 — 22 

attorney  general,  member  of  commission,  1955 — 24 

commissioner,  issue  subpoena,  1955 — 2t 

commissioner,  member  of  commission,  1955 — 2i 

commissioner,  no  compensation  to,  1955 — 25 

compensation,  none  to  commissioner,  1955 — 25 

compensation,  none  to  officer  of  company,  1955 — 25 

compensation,  none  to  state  employee,  1955 — 25 

department  of  insurance,  statement  and  order  tiled  with,  1955 — 25 

expenses,  company  to  pay,  1955 — 25 

governor,  member  of  commission,  1955 — 24  * 

hearing-,  commissioner  to  fix,  1955 — 23 

modification  by  commissioner,  1955 — 22 

notice  to  policyholders,  1955 — 25 

order  approving,  unanimous,  1955 — 24 

order  of  commissioner  filed,  1955 — 25 

officer  of  company,  no  compensation  to,  1955 — 25 

penalty,  violation  of  law,  1955 — 23 

petition  to  commissioner,  1955 — 22 

policyholders  to  have  notice,  1955 — 23 

publication  order  for  hearing,  1955 — 23 

single  risk,  fractional  part,  1955 — 21 

state  employee,  no  compensation  to,  1955 — 25 

statement  expenses  fileil,  1955 — 25 

unanimous  approval  by  commission,  1955 — 21: 

witnesses,  commissioner  may  summon,  1955 — 24 
Re-insuring  company,  duty  on  withdrawal  from  state,  fire  companies, 

1905a 
Rejection,  state  life  fund.  1989m  (7) 

Release  from  liability,  casualty  companies,  fidelity  bond,  193f) — 35 
Removal  of  causes,  conditions  in  contracts,  19T5 

fire  companies,  foreign.  1915  (2),  1917 

life  companies,  1917  (5) 

mutual  benefit  societies,  1958  (IG) 
Removal  of  property,  standard  fire  policy,  1941 — 54 
Removal,  state  fire  marshal,  194r)g 
Renewal  of  license,  prohil)ited  when,  19  47   (5) 
Renewal,  standard  fire  policy,  1941 — 51,  1975 
Reorganization  of  assessment  life  companies,  1955y— 2 
Reorganization,  mutual,  to  stock  prohibited,  1897k 
Repair,  option  to,  standard  fire  policy,  19  il — 44 
Repeal,  see  laws  repealed 

Replace,  option  to,  standard  fire  policy,  1911 — 14 
Reports,  1920.  1921,  1953n,  1954,  1955 
Report,  annual, 

annual  wh^'le  policies  in  force,  mutual  benefit  societies,  195S  (l!3) 

city  and  village  mutuals,  1941 — 12 

fire  and  marine  companies,  1920 

fire  companies,  foreign,  1915  (5) 

life  companies.  1950n.  1953n.  1954 

mutual  benefit  societies,  1958  (10) 

policy  fee,  city  and  village  mutuals,  1911 — 7m 

town  mutuals,  1938 
Report,  annual,  commissioner  to  governor,  1940p 

gain  and  loss  exhibit,  1953n,  1954,  1955 

insolvency,  1970m 

insured  to  have  on  request,  life  companies,  1952d 

premiums,  fire  department  towns,  1920m 

state  life  fund,  1989m  (17) 

surplus  lines,  1919m 


R  REPORT  TO  RISKS.  260 


Report  by  insurance  corporation  to  commissioner,  1936 — 67 
Report,  expenses,  first  year,  life  companies,  1950n 
Report,  expenses,  form,  life  companies,  1950n 
Report  of  commissioner,  contents,  1972b 

Report  of  deferred  dividend  apportionment,  life  companies,  1952h 
Report  of  oflicers,  church  insurance  companies,  1911 — 27 
Report,  receivers  to  make,  1921 

Report,  re-insurance  by  foreign  fire  companies,  1919d 
Report,  rights  of  stockholders  and  policyholders  in  surplus,  life  com- 
panies, 1947p 
Representations,  disability  insurance,  1980  (Id,  2) 
Representative  form  of  government,  defined,  1958  (3) 
Reserv.e, 

see  valuation 

computation,  to  determine  surplus,  life  companies,  1952 

defined,  life  companies,  1946x 
Reserve  fund, 

see  emergency  fund 

see  guaranty  fund 

Lloyds'  marine  insurance,  1978g 

report,  life  companies,  1954  (29) 
Reserve  liability,  life  companies,  1950 
Reserve  liabilities,  not  otherwise  fixed,  1899 
Reserves,  life  policies,  1948f 
Reserves,  mutual  benefit  society,  1858  (2) 
Reserves,  separate  funds,  special  license,  1958  (3) 
Reserves,  state  life  fund,  1989m  (3) 
Resident  agent,  see  agent 

Resignation  of  nominee,  life  companies,  domestic  mutual,  1917e 
Retail  liquor  dealers'  mutuals,  1911 — 14t 
Retaliatory  laws,  1221 
Retaliatory  laws, 

foreign  insurance  companies,  1221 
Return  of  premium,  see  premium 
Return  premium,  see  short  rate 
Review,  circuit  court,  orders,  1970j 
Review,  exceptions,  orders,  1970j 
Review,  hearings,  orders,  1970j 

Review  of  orders,  revocation  license,  mutual  benefit  societies,  1959  (28) 
RevicAv,  orders,  1970.1 
Revocation  of  license,  see  license 
Riders, 

co-insurance  clause,  19i3a 

consent  of  insured,  1943a 

lightning,  19il— 47 

mortgagee's  interest,  1941—53,  1941—63 
Riot,  excepted  risk,  standard  fire  policy,  1941 — 47 
Risk,  amount  property,  standard  fire  policy,  1941 — 43 
Risk,  approved  by  resident  agent,  1919a 
Risk,  maximum  single,  defined,  1898 

service  to  improve,  not  rebate,  1955o  (2h) 
Risks, 

city  and  village  mutuals,  1911 — 5 

classification,  town  mutuals,  1932 

classification,  mutual  companies,  1901m 

excepted,  standard  fire  policy,  1941 — 47 

extra  hazard,  standard  fire  policy,  1941 — 46  to  1941 — 51 

lightning,  hail  and  cyclone,  fire  companies,  1945c 

limitation  below  cash  value  prohibited,  1943a 

location,  town  mutuals,  1931 

Lloyds'  marine  insurance,  marine  and  fire,  1978f 


261  RISKS  TO  SECTION.  R 

Risks — continued. 

minimum  outstanding,  ISOSd 

permitted  in  one  company,  lS97a 

misrepresentation,  19A6c 

realty  face  of  policy,  1943 

state  insurance  fund,  19TSb 

town  mutuals,  1931 

town  re-insurance  mutuals,  19ila — 3 

transfer  to  unlicensed  company  prohibited,  1919 

what  not  assumed,  standard  fire  policy,  1911 — 49 

what  specifically  assumed,  standard  fire  policy,  1941 — 49 
Risks,  single,  1898 

town  mutuals,  1931 

mutual  benefit  societies,  1955a— 1 
Rolling  stock  of  railroad,  local  agent  need  not  approve  risk,  1919a 
Rules,  insolvency,  1970m 
Rules,  state  life  fund,  1989m  (18) 


Safety  clause,  see  guaranty  surplus  fund 

Salaries,  insurance  department,  170  (14) 

Salaries,  limitation,  domestic  companies,  1947r 

Salaries,  over  $3,000.00  report,  life  companies,  1954  (25) 

Salaries,  state  fire  marshal,  1946n 

Savings  on  mortality,  mutual  benefit  societies,  1957  (11) 

Schedule  required,  dividends  not  contracted  for,  1955o  (2f) 

Schedule  of  rates  open  to  inspection,  1943b 

School  funds,  payable  to  on  dissolution,  mutuals,  1897k 

Scrip  dividends  excepted,  1906,  1900a 

Secretary,  see  officers 

Secretary  of  state,  appointments  by  commissioner,  filed  with,  1977a 

audit  expenses  of  commissioner  at  convention,  1972a 

audit  fire  department  dues,  1926m 

certify  expenses,  mutual  benefit  societies,  1955k 

reports,  state  insurance  fund.  1078d 
Section  170  (14)  is  referred  to  in  1967a 

Section  1219  is  referred  to  in  1219m,  1915  (7),  1917,  1919m,  1926m 
Section  1220  is  referred  to  in  1219,  1947 
Section  1220a  is  referred  to  in  1219 
Section  1221  is  referred  to  in  1220,  1220c 
Section  1774  is  referred  to  in  lOOSrii 
Section  1896  is  referred  to  in  1219,  1958m 
Section  1897  is  referred  to^  in  1219.  1897a,  1897g,  19.58,  1960 
Section  1897c  is  referred  to  in  1941g  (3),  1958,  1978d,  1978e 
Section  1898  is  referred  to  in  1219.  1897s,  1898d,  19.58,  19S9m  (14) 
Section  1898d  is  referred  to  in  1219,  18971,  lS97s,  1958 
Section  1899  is  referred  to  in  1219,  1958 
Section  1900  is  referred  to  in  1219,  1958 
Section  1901m  is  referred  to  in  1958 
Section  1908  is  referred  to  in  1908a,  1908m 
Section  1910  is  referred  to  in  1909,  1912 
Section  1911  is  referred  to  in  1909 
Section  1912  is  referred  to  in  1900 
Section  1913  is  referred  to  in  1909 
Section  1915  is  referred  to  in  2637  (9) 

Section  1919a  is  referred  to  in  1919c,  1919d,  1919e,  1919g,  1919m 
Section  1919b  is  referred  to  in  1919c,  1919d,  1919e,  1919g 
Section  1919c  is  referred  to  in  ]919d,  1919e,  1919f,  1919g 
Section  1919d  is  referred  to  in  1919c,  1919e,  1919g 
Section  1919e  is  referred  to  in  1919c,  1919d,  1919g 
Section  1919f  is  referred  to  in  1919c,  1919d,  1919e,  1919g 


SECTION  REFERENCES.  262 


Section  1919g  is  referred  to  in  1919c,  1919cl,  1919e 

Section  1920  is  referred  to  in  1915  (5) 

Section  1928  is  referred  to  in  1928m 

Section  1927  is  referred  to  in  1941a— 3,  1911n 

Section  1928  is  referred  to  in  1927  (2),  1911a— 3,  19Aln 

Section  1929  is  referred  to  in  1927  (2),  1941a— 3,  19iln 

Section  1930  is  referred  to  in  1927  (2),  1941a— 3,  1311n 

Section  1931  is  referred  to  in  1927  (2),  1932,  1911a— 3,  1941n 

Section  1932  is  referred  to  in  1927  (2),  1911a— 3,  1911n 

Section  1933  is  referred  to  in  1927  (2),  1941a— 3,  1911n 

Section  1934  is  referred  to  in  1927  (2),  1911a— 3,  1911n 

Section  1935  is  referred  to  in  1927  (2),  1941a— 3,  1941n 

Section  1936  is  referred  to  in  1927  (2),  1941a— 3,  1911n 

Section  1937  is  referred  to  in  1927  (2),  1941a— 3,  1911n 

Section  1938  is  referred  to  in  1927  (2),  1911a— 3,  1911n 

Section  1939  is  referred  to  in  1927  (2),  1911a— 3,  1911n 

Section  1940  is  referred  to  in  1927  (2)^  1941a— 3,  1911n 

Section  1941  is  referred  to  in  1927  (2),  1911a— 3,  1911n 

Section  1941a — 1  is  referred  to  in  1911a — 4 

Section  1941a — 2  is  referred  to  in  1941a — 4 

Section  1941a — 3  is  referred  to  in  1941a — 1 

Section  1941 — 9  is  referred  to  in  1941 — 10 

Section  1941—42  is  referred  to  in  1911—81,  1941—65 

Section  1941—43  is  referred  to  in  1941—64,  1941—65 

Section  1941—44  is  referred  to  in  1941—64,  1941—35 

Section  1941—45  is  referred  to  in  1941—84,  1941—85 

Section  1941—46  is  referred  to  in  1941—84,  1941—65 

Section  1941—47  is  referred  to  in  1941—84,  1941—65 

Section  1941—48  is  referred  to  in  1941—64,  1941-^65 

Section  1941— 49  is  referred  to  in  1911—64,  1941—65 

Section  1941—50  is  referred  to  in  1911—64,  19  41—35 

Section  1941—50  is  referred  to  in  19  41—64,  1941—65 

Section  1941—52  is  referred  to  in  19  41—84,  1941—65 

Section  1941—53  is  referred  to  in  1941—64,  1941—65 

Section  1941—51  is  referred  to  in  1941—64,  1941—35 

Section  1941—55  is  referred  to  in  1941—34,  1941—65 

Section  1941—56  is  referred  to  in  1941—64,  1941—65 

Section  1941—57  is  referred  to  in  1911—81,  1941—65 

Section  1941—58  is  referred  to  in  1941—84,  19  41—65 

Section  1941—59  is  referred  to  in  1941—61,  1911—35 

Section  1911—60  is  referred  to  in  1911—61,  1911—85 

Section  1941—61  is  referred  to  in  1911—81,  1941—65 

Section  1941—62  is  referred  to  in  1911—31,  1911—65 

Section  1943—63  is  referred  to  in  1941—3  4,  1941—65 

Section  1941 — 64  is  referred  to  in  1941—85 

Section  1946  is  referred  to  in  1946c 

Section  1946a  is  referred  to  in  1943e    ^ 

Section  1948b  is  referred  to  in  1943e 

Section  19  48c  is  referred  to  in  1916e 

Section  1946g  is  referred  to  in  1941i,  1911n,  1946o,  1943q 

Section  1946h  is  referred  to  in  l'.)13i,.  1948g.  1948n,  1946o,  19  l :8q 

Section  1946i  is  referred  to  in  1918g,  1948m,  1916n,  1946o,  1943a 

Section  1946J  is  referred  to  in  1946g,  1943i,  1946n,  1916o,  1948q 

Section  194')k  is  referred  to  in  194ag,  1948i,  1946n,  1946o,  1943q 

Section  1943  1  is  referred  to  in  19 438-,  1943i,  1916n,  1916o,  1943q 

Section  1918n  is  referred  to  in  1918g,  1916i.  19t6o.  1946q 

Section  1946o  is  referred  to  in  1946g,  1946i,  1946n,  1946q 

Section  1946p  is  referred  to  in  1946g,  1943i,  194(>n,  1946o,  1916q 

Section  1940q  is  referred  to  in  1943g,  1948i,  1946n,  1946o 

Section  1947  is  referred  to  in  1917a 


263  SECTION  KEFERENCES. 


Section  1947c  is  referred  to  in  1047j 

Section  1947(1  is  referred  to  in  1947J 

Section  1947e  is  referred  to  in  1917j 

Section  1917f  is  referred  to  in  1947.i 

Section  1947g  is  referred  to  in  1947J 

Section  1947h  is  referred  to  in  1917.1 

Section  1947i  is  referred  to  in  1947J 

Section  19471v  is  referred  to  in  1917J 

Section  1950  is  referred  to  in  1959  (22) 

Section  1950c  is  referred  to  in  1950    . 

Section  1950n  is  referred  to  in  1950o 

Section  1950o  is  referred  to  in  1950t 

Section  1950p  is  referred  to  in  1950t 

Section  1950q  is  referred  to  in  1950t 

Section  1950r  is  referred  to  in  1950t 

Section  1950s  is  referred  to  in  1950t 

Section  1952  a  is  referred  to  in  1952c 

Section  1952b  is  referred  to  in  1952c,  1952d 

Section  1952f  is  referred  to  in  1952g,  1952i 

Section  1953  is  referred  to  in  2637  (9) 

Section  1954  is  referred  to  in  1953n 

Section  1955o  (5)  is  referred  to  in  1919c 

Section  1955—1  is  referred  to  in  1220 

Section  1955 — 22  is  referred  to  in  1955 — 23m 

Section  1955 — 23  is  referred  to  in  1955 — 23m 

Section  1955 — 23m  is  referred  to  in  1955 — 25 

Section  1955 — 24  is  referred  to  in  1955 — 23m 

Section  1955 — 25  is  referred  to  in  1955 — 23m 

Section  1956  is  referred  to  in  195S  (15) 

Section  1966—32  is  referred  to  in  2637  (9) 

Section  1963 — 33a  is  referred  to  in  1968—34 

Section  1970m  is  referred  to  in  1970n 

Section  1971  is  referred  to  in  1978j 

Section  1972  is  referred  to  in  1959  (30),  1978J 

Section  1976  is  referred  to  in  1919a,  1919m  (1),  1955o  (2,  d,  e) 

Section  1978a  is  referred  to  in  1978d,  197Se,  1978f— 5 

Section  1978b  is  referred  to  in  1978d,  1978e,  1978f— 5 

Section  1978c  is  referred  to  in  1978d,  1978e,  1978f— 5 

Section  1978e  is  referred  to  in  1978d 

Section  1978f  is  referred  to  in  1978g,  1978k,  1978  1,  1978m 

Section  1978g  is  referred  to  in  19781i,  1978J,  1978  I,  1978m 

Section  1978h  is  referred  to  in  1978  1,  1978m 

Section  1978i  is  referred  to  in  1978  1,  1978m 

Section  1978j  is  referred  to  in  1978  1,  1978m 

Section  1978k  is  referred  to  in  1978  1,  1978m 

Section  1978  1  is  referred  to  in  1978m 

Section  2347  is  referred  to  in  2918—19 

Section  3677  is  referred  to  in  1946k 

Section  4575  is  referred  to  in  4575e 

Services,  proliibited  contract,  life  companies,  1955c 

Service  of  demand  for  forms,  life  companies,  1955c 

Service  of  process,  see  attorney  for  service  of  process 

Service  of  process,  domestic  insurance  companies,  2637  (6) 

Service  of  process,  mutual  benefit  societies,  foreign,  2637  (11) 

Service,  orders,  1970J 

Service  to  improve  risk,  not  rebate,  1955o  (2h) 

Session  laws,  see  table  preceding  index 

Setting  fires,  see  arson 

Short  rate,  standard  fire  policy,  1941 — 52 

Sickness,  see  disability  insurance 

Single  risk,  see  risk,  single 

Single  investment,  see  investment 


S  SIZE  TO  STANDARD.  264 

Size  of  paper,  standard  fire  policy,  1941 — 64 

Son,  married  woman  may  insure,  2347 

Special  assessments,  see  taxes,  mutual  benefit  societies,  1959  (30) 

Special  committee,  see  investigation 

Special  guaranty  fund,  life  companies,  1947  (3) 

Special, reserve  fund,  see  guaranty  surplus  fund 

Special  surplus  fund,  domestic  companies,  1897a 

Sprinkler  leakage,  1897  (1) 

see  risks 

fire  companies  may  write,  1945c 

insurance  classification,   1897    (12) 
Standard  fire  policy,  1941—42  to  1941—65 

abandonment,  none,  1941 — 44 

application,  part  of  contract,  1941 — 50 

appraisal,   1941 — 44 

appraisement,  1941 — 58 

arbitrators,  1941 — 56 

asignment  before  loss  avoids,  1941 — 46 
.    assignment,  form,  1941 — 68 

assignment  of  policy,  1941 — 46 

books  of  account,  1941 — 55 

cancellation,  1941 — 52 

care  of  property  after  fire,  1941 — 47 

cash  value,  liability,  1941 — 44 

certificate  of  magistrate,  1941 — 55 

change  in  interest  avoids,  1941 — 46 
•  chattel  mortgage,  1941 — 46 

circuit  judge  to  appoint  umpire,  1941 — 56 

civil  authority,  excepted  risk,  1941 — 47 

civil  war,  excepted  risk,  1941 — 47    • 

co-insurance  clauses,  1943a 

commissioner  to  prepare  printed  form,  1941 — 42  . 

concealment,  1941 — 45 

conditions,  waiver,  1941 — 62 
I        consent  of  insured  to  co-insurance  clause,  1943a 

consent  by  company  to  assignment,  1941 — 63 
'        contents,  additional,  1941 — 64 

contract  contrary  to  law  binds  company,  1941 — 55 

damage,  1941—60 

death  of  insured,  1941 — 46 

endorsement,  1941 — 46 

examination,  1941 — 55 

expenses,  appraisers,  1941 — 56 
'        explosion,  damages  by,  1941 — 47 

explosives,  1941 — 46 

fallen  building,  1941 — 48 

fire,  risk  of,  1941 — 43 

foreclosure,  1941 — 46  ^ 

forfeiture,  not  waived,  1941 — 57 

form,  commissioner  to  prepare,  1941 — 42 

formal  part,  1941—43 

fraud,  1941—45 

illuminating  gas,  1911 — 46 

increase  of  hazard  avoids,  1941 — 46 

indorsements,  forms,  1941 — 63 

insured,  defined,  1941 — 30 

insured,  duties  of,  1941 — 55 

insurrection,  excepted  risk,  1941 — 47 
'        invasion,  excepted  risk,  1941 — 47 

inventory,  insured  to  make,  1941 — 55 

joint  policy,  1941—64 


^65  STANDARD   FIRE   POLICIES. 


Standard  fire  policy — continued, 
knowledge  of  agent,  1941 — G2 
legal  representatives,  1941 — GO, 
lightning,  risk  of,  1941 — 47 
lightning,  what  included  by,  1941 — 47 
loss,  1911—65 
loss,  defined,  1941—00 
loss,  payable  when,  19  il — 57 

manufacturing,  establishment,  operation  of,  1941 — 46 
mechanics,  employment  of,  1941 — 40 
military  power,  excepted  risk,  1941 — 47 
misrepresentation,  1941 — 45 
mortgagee,  right  of,  1941 — 53 
mutual  in  name  when,  1942 
neglect  of  insured,  excepted  risk,  1941 — 47 
notice  of  cancellation,  1941 — 52 
notice  of  loss,  1941—44,  1941—55 
notice  to  agent,  1941 — 02 
occupants,  change  of,  1941 — 40 
open  policy,  1941—43,  1941—44 
operation  of  laws  loss  by  excepted,  1941 — 49 
option  of  company,  repair,  1941 — 44 
other  conditions,  1941 — 60 
other  insurance,  1941 — 40,  1941 — 47 
other  insurance,  agreements,  1941 — 58 
ownership  of  ground,  1941 — 40 
ownership  of  risk,  1941 — 46 
petroleum.  1941 — 46 
penalty,  1941—65 
phosphorus,  1941 — 46 
policy  to  contain  name  on  first  page,  1942 
premium,  1941 — 43 
premium,  returned,  1941 — 52 
printed  form,  1941 — 64 
proof  of  loss,  1941—44,  1941—55 
proportionate  liability,  1941 — 54 
receipt  to  contain  name  on  first  page,  1942 
re-insurance  agreement,  1941 — 58 
removal  of  property,  1941 — 54 
renewal,  1941 — 51 
repair,  option,  to,  1941 — 44 
replace,  option  to,  1941 — 44 
rates,  establishment  of,  1943b 
required,  exceptions,  1941 — 64 
riot,  excepted  risk,  1941 — 47 
risk,  amount  property,  1941 — 43 
risk,  extra  hazard,  1941—46  to  1941—51 
risk,  on  what  must  be  specifically  assumed,  1941 — 49 
risk,  on  what  not  assumed,  1941 — 49 
risk,  what  excepted,  1941 — 47 
short  rate,  1941—52 
«ize  of  paper,  1941 — 64 
statement  by  insured,  1941 — 55 
stock  company  to  be  shown  on  first  page,  1942 
subrogation  of  company,  1941 — 59 
termination  by  fall  of  building,  1941 — 48 
theft,  excepted  risk,  1941—47 
time  of  payment,  1941 — 57 
time  of  payment  of  loss,  1941 — 44 
title,  change  of,  1941—46 
type,  1941—64 


S  STANDARD  TO  STATE.  266; 

Standard  industrial  mortality  table,  valuation,  1950d 
Standard  policy,  exceptions, 
town  mutuals,  1911 — 61' 
Standard  provisions,  see  policy  provisions,  1918n) 
State  bank,  state  life  fund,  1989m  (6,  8) 
State  bonds,  investments,  1903 

State  bonds,  investments,  life  companies,  domestic,  1951 
State  buildings,  state  insurance  fund,  1978a 
State  fire  marshal,  1946g  to  1946q 
appointment,  1916g 

arrest  for  arson,  to  be  caused  by,  1946j 
assistants,  appointment  of,  1946h 
assistant  fire  marshal,  appointment,  1948g 

attorney,  one  deputy  to  be,  1948h 

certificate  dues,  1926m 

chiefs  of  fire  departments,  when  to  receive  fees,  1946q 

clerks,  employment  of  by,  1916n 

confirmation,  1948g 

contempt  in  proceedings  before,  1946k 

deputy  fire  marshals,  appointment  of,  1946h 

district  attorney  to  be  furnished  evidence,  1946j 

duties,  19461 

February  fifteenth,  annual  report  made,  1946p 

fire  companies,  tax  for,  1946n 

fire  department  chiefs,   when   to   receive   fee   for  reporting  fire», 
1946q 

fires,  fee  for  reporting,  1946q 

fires,  investigation,  19461 

governor,  annual  report  to,  1946p 

governor,  to  appoint,  1946g 

investigations  private,  1946k 

mayor,  fee  for  reporting  fires,  1946q 

mayor,  to  investigate  fires,  19461 

notice  from  municipal  officer  to,  19461 

oaths  administered  by,  1946k 

office,  where  held,  1946g 

officers,  fee  for  reporting  fires,  1946q 

officers'  fees,  service  at  request  of,  1946n 

officer,  penalty  for  neglect  to  comply  with  law,  1946m 

order  to  remove  on  dangerous  premises,  1946  1 

other  business,  not  engaged  in,  1946o 

penalty,  contempt  before,  1946k 

penalty,  neglect  to  comply  with  order  to  remove,  1946  1 
'    premises,  dangerous,  view  of,  1946  1 

premises,  view  of,  1946k 

premiums,  tax  on,  1946m 

record  of  fires,  19461      • 

record  of  prosecutions  for  arson,  1946j 

removal,  1946g 

report  annual,  to  governor,  1948p 

salaries,  1946n 

state  not  liable  for  expense  in  excess  fund  from  tax,  1918n 

subpoena,  1946k 

surplus  fund,  tax  may  be  remittejl,  1946n 

tax  on  fire  companies,  1940n 

umpire,  1941 — 56 

vacant  buildhig,  1941 — 48 

value,  actual,  1941 — 49 

valued  policy,  realty,  1943 

value,  proportional  to  building,  1941 — 49 

view,  1941 — 55 


I 


267  STATE   FIRE  MARSHAL. 

State  Fire  Marshal — continued. 

waiver  of  appraisal,  1941 — 56 

waiver  of  conditions  by  agents,  1941 — 62 

waiver,  none  of  forfeiture,  1911 — 57 

warranty,  application,  19  tl — 50 

tax  on  fire  companies  may  be  remitted  when,  1946n 

term  of,  1946g 

testimony  taken  by,  1946j 

town  clerk  to  investigate  fires,  19461 

town  clerk,  fees  for  reporting  fires,  1946q 

vacancy,  how  filled,  1916g 

view  of  building,  1946k 

village  president,  fee  for  reporting  fires,  1946q 

village  president,  to  investigate  fires,  19461 

vouchers,  1946n 

witnesses,  fees  where  subpoenaed  by,  1940k 

witnesses  may  be  kept  separate,  1946k 
State  insurance  fund,  19T8a  to  1978e 

adjustment,  county  buildings,  1978f — 5 

appropriation  to  state  insurance  fund,  1978e 

copies,  reports,  filed  with  secretary  of  state,  19S7d 

commissioner,  1978f — 5 

commissioner  to  adjust  loss,  1978c 

commissioner  to  value  risks  for,  1978h 

county  board,  option,  1978f — 5 

county  buildings,  1978f — 5 

expenses,  county  buildings,  1978f — 5 

fire,  risk  of,  carried  by,  197Sb 

July  1,  county  buildings,  1978f — 5 

June  1,  county  buildings,  1978f — 5 

loss,  adjustment,  1978c 

payment  of  loss,  197Sc 

premium  credits  to,  1978b 

public  buildings,  insured  only  by,  1978a 

risks  carried  by,  1978b 

secretary  of  state  to  have  copies  of  reports,  1978d 

state  buildings,  no  insurance  except,  1978a 

tornado,  risk  carried  by,  1978b 
State,  liability  limited,  state  fire  marshal,  expense,  1946n 
State  life  fund, 

accounts,  audit,  1989m   (17) 

American  Experience  Table,  1989m  (4) 

annuities,  1989m  (5,  16) 

annuities,  conditions,  1989m 

application,  1989m  (7) 

bond,  1989m  (2,  3,  8) 

cash  surrender,  notice,  1989m  (11) 

city  clerk  and  treasurer,  1989m  (6,  8) 

combination  policies,  1989m   (17) 

commissioner,  1989m 

costs  of  insurance,  1989m  (3) 

dividend,  1989m  (9) 

expense  charge,  1989m  (4,  5) 

expenses,  1989m  (13) 

extra  hazards.  1989m  (4) 

fees.  1989m  (7,  13) 

forms,  1989m  (6) 

interest  assumption,  1989m  (4,  5) 

investments,  1989m  (2) 

life  insurance,  1989m  (4,  16) 

loans,  1989m  (10) 


S  STATE  TO  STOCK.  288 

State  Life  Fund — continued. 

losses,  adjustment,  l-989m  (12) 

management,  19S9m  ^ 

medical  examination,  1989m  (7,  13) 

Mortality  table,  1989m   (4,  5) 

officers'  duties,  1989m  (6) 

policy  conditions,  risks,  minimum,  maximum,  single,  1989m  (14) 

policies,  1989m  (3,  5,  7,  9,  11,  14,  IG) 

premium,  advance,  1989m  (7) 

premiums,  1989m    (3,  4,  5) 

purposes,  1989m   (1) 

refund,  1989m  (9) 

rejection,  1989m   (7)       • 

reports,  1989m  (17) 

reserves,  1989m   (3) 

rules,  19S9m  (18) 

state  bank,  1989m  (6,  8) 

steat  depository,  1989m  (8) 

state  treasurer,  1989m  (2,  12,  13) 

surplus,  1989m  (9) 

town  clerk  and  treasurer,  1989m  (6,  8) 

valuations,  1989m  (17) 

village  clerk  and  treasurer,  1989m  (6,  8) 
Statement,  see  report 

Statement  by  insured,  standard  fire  policy,  1941 — 55 
Statement  expenses  filed,  re-insurance,  life  companies,  1955 — 25 
Statement  filed  by  life  companies,  foreign,  before  doing  business,  1953 
Statement  of  financial  condition,  casualty  companies,  foreign,  1986 — 32 
Statement,  financial  condition,  fire  companies,  foreign,  1915  (3) 
Statement  required  of  surplus  and  apportionment,  life  companies,  1952c 
Statements,  during  examination,  mutual  benefit  society,  1959  (27) 
Statements  to  policyholders,  assessment  life  insurance,  1955y — 1 
State  officer  or  employee 

see  employee 

see  officer 
State  to  pay  expense  of  casualty  company  fidelity  bond,  1986 — 37 
State  treasurer,  see  deposit 

State  treasurer,  bond  of  commissioner  filed  with,  1977 
State  treasurer,  bond  of  commissioner  to  report  receipts  to,  1972c 
State  treasurer,  duties  fire  department  dues,  1926m 
State  treasurer  to  hold  deposits,  1973 
State  treasury,  expense,  examinations,  1988 
State  treasury,  forfeiture  paid  into,  3300 
Stationery,  commissioner  to  have,  1966 — 67 
Statutes,  see  table  preceding  index 

Steam  boiler  explosion  excepted,  risks  fire  companies  may  write,  1945c 
Steam  boiler  insurance,  classification,  1897  (8) 
Stenographer's  testimony,  1988f 

Stenographers,  commissioner  to  appoint,  1967a,  170  (14) 
Stipulated  premium  life  companies,  1955 — 21 
Stock,  see  capital  stock 
Stock  and  mutual  policies,  see  participating  and  non-participating  poll' 

cies 
Stock  certificate  to  recite  lien  for  premium,  1904 
Stock  companies, 

see  fire  companies,  domestic  stock 

also  generally: 

see  casualty  companies,  domestic,  foreign 
t     see  hail  companies,  foreign 

see  insurance  companies 

see  life  companies,  domestic,  foreign 


2';0  STOCK  TO  SURVEY.  S 

Stock  Companies — continued. 

see  live  stocli  companies,  domestic,  foreign 
see  marine  companies,  domestic 
see  re-insurance  companies 

(see  re-insurance  life  companies 
capital,  increase,  190S 
capital  required,  1897g 
name,  1897b 
promotion,  1897f 
risks,  policies,  1897a 
surplus  required,  1897g 
Stock  company,  policy,  first  page  to  show,  standard  fire  policy,  1942 
Stock,  domestic  life  company,  1947  (1) 
Stockholders, 

I,  see  capitiil  stock,  impairment 
|r       consent  to  increase  of  capital,  1908 
f       liability,  unlawful  dividend,  1906,  1986—44 
rights  of,  in  surplus,  life  companies,  1947p 
vote  on  dividend,  domestic  stock  fire  company,  1908,  1908a 
Stock,  see  capital  stock 

Stock  life  companies,  re-insurance,  1955 — 21 
Stock,  Lloyds  insurance,  1945g 
Stock,  each  share,  one  vote,  1760 
Stock,  market  value,  investment,  1903 
Stock  policies,  see  policies,  non-participating 
Stock,  prohibited  sale,-  life  companies,  1955o 
Stock  to  be  paid  in,  directors  liable  until,  fire  companies,  domestic  stock 

1901 
Stock,  transfer,  waiver  of  lien  for  premium,  1904 
Subpoena  by  state  fire  marshal,  1946k 
Subscription  contract,  stock,  1897f 

Substandard  industrial  mortality  table,  valuation,  1950d 
Suits, 

see  actions 

see  removal  of  causes 
Sum  insured,  defined,  life  companies,  1946x 
Summons, 

see  attorney  for  service  of  process 

see  process 

see  service  of  process 
Surety  bond,  see  fidelity  bond 
Surety,  casualty  companies  may  be,  1936 — 34 
Surety  company  excepted,  re-insurance,  risk,  1966 — 41 
Surety  companies  to  write  through  resident  agent,  1945e 
Suretyship  companies,  see  casualty  companies 
Surplus,  basis  for  single  risk,  city  and  village  mutuals,  1941  —5 
Surplus  funds,  report,  life  companies,  1954 — 29 
Surplus  required,  stock  companies,  1897g 
Surplus,  how  estimated,  casualty  companies,  1963 — 44 
Surplus  in  fund,  tax  may  be  remitted,  state  fire  marshal,  19lGn 
Surplus, 

life  companies,  1052 

limitation,  fire  mutuals,  domestic,  1942 — 1 

required  for  dividends  in  excess  of  ten  per  cent,  1906a 

rights  of  stockholders  and  policyholders,  life  companies,  1947p 

state  life  fund,  1989m  (9) 

unapportioned,  life  companies,  1952a 
Surplus  lines,  1919m 
Surplus  notes,  mutuals,  1897g  (4) 
Survey,  see  application 


SUSPENSION  TO  TOWN.  270 


Suspension, 

city  and  village  mutuals,  1911 — 9 


Table  of  mortality, 

American  experience,  life  companies,  1950 

Northampton,  future  estates,  3871a 
Tax,  see  license  fees 

Tax  on  fire  companies,  state  fire  marshal,  1916n 
Tax,  surplus  lines,  1919m 

Taxation,  exemption,  mutual  benefit  society,  1959  (30) 
Taxation,  exemption  personal  property,  1038 
Taxes,  see  fire  department  dues,  1926m 

Taxes,  report,  life  companies,  1950n  / 

Taxes,  retaliatory  laws,  1221 
Tempest,  1897  (1) 

see  risks 
Terminal  reserves,  defined,  life  companies,  1916x 
Termination  by  fall  of  building  standard  fire  policy,  1911 — 18 
Term, 

see  directors 

see  policies 

commissioner  of  insurance,  1988y 
Term  insurance,  excepted,  policy  provisions,  1918m  (4) 
Term  of  corporation, 

limitation  removed,  1911g  (4) 

life  companies,  1951  (3) 

town  mutuals,  1941  n  t 

Term  of  directors,   who  elected  to   longest,   life  companies,   domestic 

mutual,  19471 
Term  of  state  fire  marshal,  1916g 
Territories,  domestic  life  companies  may  loan  in,  1951 
Territory,  additional,  vote,  town  mutuals,  1940,  1941 
Testimony,  ch.  512,  1911,  following  4575e 
Testimony,  deposition,  1968f 
Testimony,  fees,  1988f 

state  fire  -marshal  to  take,  19 16j 

stenographer,  19S8f 

witnesses,  compelhug  attendance,  fees,  1938f 
Theft,  excepted  risk,  standard  fire  policy,  1911 — 47 
Three  years,  examination,  mutual  benefit  societies,  1959  (21) 
Tie,  inspectors  to  decide  by  lot,  life  companies,  domestic  mutual,  1917i 
Time  for  notice  of  injury,  policy  to  specify,  casualty  companies,  1966 

—49a 
Time  for  payment  of  loss,  standard  fire  policy,  1911 — 44,  1911 — 57 
Title,  change  of,  standard  fire  policy,  1941—46 
Title  insurance,  classification,  1897  (8) 
Tornado,  see  cyclones 
Tornado,  risk, 

fire  companies,  1945c 

state  insurance  fund,  1978b 
Total  loss,  see  wholly  destroyed 

Town  clerk,  fee  for  reporting  fires  to  state  fire  marshal,  1946q 
Town  clerk  to  investigate  fires  under  direction  of  state  fire  marshal, 

19461 
Town  clerk  and  treasurer,  state  life  fund,  1989m  (6,  8) 
Town  mutuals,  1927  to  1911 

annual  meeting,  1928 

annual  meeting,  place  of,  1929 
.    arbitrators,  loss,  1934 

articles,  form,  1927 


:271  TOWN  TO  TRADING. 

"Town  mutuals — continued. 

articles  and  amendments,  1927  (3) 

articles,  amendment,  territory,  1940 

articles,  filing,  1941n 

assessments,  1935 

assessment,  action  upon,  1936 

cancellation  of  policy,  1937 

commissioner  to  approve  policy,  1932 

commissioner,  report  filed  with,  1938 

commissioner  to  file  copies,  1927 

cyclone,  may  insure  against,  1931 

directors,  1928 

directors,  liability  for  neglect,  1930 

directors,  power  of,  1937 

directors,  terms  of,  1929 

excepted,  fire  marshal  tax,  1916n 

fees  of  treasurer,  1935 

license  fee,  none,  1219 

location  of  property  insured,  1931 

loss,  arbitrators,  1931 

loss,  committee  on,  1931 

loss  while  in  default,  1935 

may  borrow  to  pay  loss,  1935 

meeting  may  authorize  cyclone  insurance,  1931 

members  non-resident,  1939 

members,  town  re-insurance  mutuals,  1941a 

members,  who  are,  1933  - 

name,  change  of,  1927 

notice  of  adding  territory,  1940 

notice  of  assessment,  1935 

notice  of  loss,  1934 

oaths,  secretary  may  administer,  1934 

ofiicers,  1929 

organization,  1927 

penalty,  default  in  payment,  1935 

policies,  1932 

property  it  may  insure,  1931 

proxy,  who  may  vote,  1928 

records,  1929 

re-insurance,  1931a 

report,  annual,  1938 

risks,  classification  of,  1932 

risk,  single,  1931 

term  of  duration,  no  limitation,  1941n 

territory,  city  and  village,  1931 

territory,  new  towns,  1940  « 

treasurer,  duties  and  bonds,  1930 

two-thirds  vote,  new  territory,  1940 

validating  provision,  1941n 

votes  of  members,  1928 

withdrawal  of  member,  1937 
Town  re-insurance  mutuals, 

directors,  1941a — 3 

members,  1941a — 4 

members,  representation,  1941a — 2 

organization,  1941a — 1  f 

risks,  1941a— 3 

town  mutuals,  members,  1941a — 4 
Town  may  pay  expense  of  casualty  company  fidelity  bond,  1966 — 38 
Trading  powers, 

fire  companies,  domestic,  '1902 

marine  companies,  domestic,  1902 


T  TRANSACTING  TO  VALUATION  272^ 

Transacting  business, 

capital  subscribed  and  paid  in',  1773 

condition,  domestic  companies,  18971 
Transacting  insurance,  conditions,  domestic  companies,  1897s 
Transfer  of  risk,  see  risk 

Transit,  property  in,  approval  of  risk  by  local  agent,  1919a 
Treasurer,  see  officers 
Treasurer,  bond,  fees 

city  and  village  mutuals,  1941 — 4 

town  mutuals,  1930 
Trustees,  see  directors 
Type,  policies,  disability  insurance,  1980 

standard  fire  policy,  1941 — 61 


Unapportioned  surplus,  life  companies,  1952a 
Unauthorized  companies,  1919f 

surplus  lines,  1919m 
Unauthorized  insurance,  license  fees,  1219m 
Unauthorized  mutual  benefit  society,  agent  acting  for,  4575d 
Undertaking,  town  mutuals,  1933 

Undertaking  in  justice  court  by  casualty  company,  1986 — 33a 
Underwriters,  liability  of,  Lloyds'  marine  insurance,  1978k 
Underwriters,   Lloyds'    marine   insurance,    list   of   furnished,   commis- 
sioner, 1978 
United  States,  assets  in,  shown,  1946a 

United  States  bonds,  domestic  life  companies  may  invest  in,  1951 
United  States  courts,  see  removal  of  cause,  mutual  benefit  society,  195& 
(16) 


Vacancy,  filled  only  until  next  election,  fire  companies,  domestic  mu- 
tual, 1917c 
Vacancy,  how  filled,  state  fire  marshal,  1946g 
Vacancy  in  nomination,   how   filled,  life  companies,   domestic  mutual, 

1947e 
Vacant  building,  standard  fire  policy,  1941 — 46 

Vacation  of  office  by  directors,  life  companies,  domestic  mutual,  1917k 
Validating  provision,  towm  mutuals,  1941n 
Validation,  assessment,  city  and  village  mutuals,  1941 — 9m 
Validity  of  policy  not  admitted  by  mailing  ballot,  life  companies,  do- 
mestic mutual,  19171 
Valuation, 

annuities,  1950d 

assessment  life  policies,  1955y — 1 

certificate  o'f,  by  commissioner,  1950  (7) 

commissioner  to  make,  1950  (6) 

December  31,  1912,  mutual  benefit  societies,  1959  (22) 

department  of  commerce  and  labor,  1950  (5) 

department  of  foreign  state,  1950  (4) 

disability  policies,  1950d 

exception,  policies  prior  to  1907 

expense  charge,  1950(3) 

fee,  1950a 

industrial  policies,  1950d' 

life  companies  from  foreign  countries,  1950b 

life  policies,  mortality  table,  1950c 

method  of  accumulation,  1948m  (1) 

mutual  benefit  society,  1859  (22) 


273  VALUATION  TO  WITHDRAWAL.  V 

Valuation — continued. 

policies,  basis,  method,  life  coDipauies,  1950 

premium  deficient,  1950  (2) 

state  life  fund,  19S9m  (17) 
Valuation  of  future  estates  by  commissioner,  1087 — 13   (2),  1087 — 15 

(2),  3871a 
Valuation  of  other  states,  when  accepted,  life  companies,  1950 
Valuation  of  policies  of  assessment  life  companies,  1955y — 1,  1955y — 2 
Value,  actual,  standard  tire  policy,  19il — 49 
Value,  proportional  to  building,  standard  tire  policy,  1941 — 49 
Valued  policy,  1943 

Verdict,  joinder  of  companies  as  defendants,  2609a 
Veterinary  surgeon,  live  stock  companies  may  provide,  1966 — 50 
Vievi^  of  building  by  state  tire  marshal,  1940k 
View,  standard  tire  policy,  1941-  55 
Village  clerk  and  treasurer,  state  life  fund,  1989m  (6,  8) 
Village  president,  fee  for  report  ng  tire  to  state  tire  marshal,  1946q 
Village  president  to  investigate    ires  under  direction  of  state  fire  mar- 
shal, 19461 
Village  to  pay  expense  of  casualty  company  fidelity  bond,  1966 — 38 
Villages,  insurance  by  town  mutuals,  1931 
Violation  of  insurance  laws,  penalty,  1955o — 5 

mutual  benefit  society,  1959  (29) 
Vote,  each  member  one,  city  and  village  mutuals,  1941 — 2 
Vote,  each  member  one,  life  companies,  domestic  mutual,  1947g 
Vote,  each  share  stock,  exceptions,  1760 
Vote,  in  person,  life  companies,  domestic  mutual,  1947g 
Vote,  one  for  each  member,  permitted,  town  mutuals,  1928 
Vote,  proxy, 

city  and  village  mutuals,  1941 — 2 

mail,  mutual  benefit  society,  1956  (3) 

town  mutuals,  1928 
Vote,  by  proxy,  existing  invalidated,  1760m 

Vote,  reduction,  capital  stock,  casualty  companies,  domestic,  1966 — 46 
Vote,  salary,  life  companies,  domestic,  1947r 
Vote,   who   may, 

life  companies,  domestic  mutual,  1947c 
Votes,  excessive  number,  life  companies,  domestic  mutual,  1947g 
Vouchers,  state  fire  marshal,  1946n 


Waiver  of  appraisal,  standard  fire  policy,  1941 — 56 

Waiver,  failure  to  attach  application  by,  1945a 

Waiver,  noue  of  forfeiture,  standard  fire  policy,  1911 — 57 

Waiver  of  conditions  by  agents,  standard  fire  policy,  1941 — 62 

Waiver  of  defense,  failure  to  furnish  copy  application,  fife  companies, 

1953b 
Warranties,  estoppel  company,  4202s 
Warranties,  misrepresentation,  4202s 
Warranties,  physician's  certificate,  4202s 
Warranty,  application  when,  standard  fire  policy,  1941 — 50 
Warranty,  application,  4202m 

policy,  4202m 
Warranty  by  insured,  in  application,  1941 — 50,  1945a 
Wholly  destroyed,  standard  policy,  1943 
Withdrawal, 

city  and  village  mutuals,  1941 — 11 

town  mutuals,  1937 
Withdrawal  charge,  see  short  rate 

18—1.  L. 


W  WITHDRAWAL  TO  YKAE.  274 

Withdrawal  of  deposit,  1973 

Witnesses,   commissioner   may   summon,   re-insurance   life   companies, 

1955—24 
Witnesses,  compelling  attendance,  fees,  testimony,  1968f 
Witnesses  may  be  kept  separate,  state  fire  marshal,  3  946k 
Witness,  immunity  to,  life  companies,  1955o,  19431 
Witness  required  on  ballot,  domestic  mutual  life  companies,  1947g 
Workmen's  collective  policy,  disability  insurance,  1960  (5) 

Year  means  calendar  year,  dividends,  1906 


ru 


2ti503 


682193 


UNIVERSITY  OF  CAUFORNIA  UBRARY 


